Sales through direct channels represented more than 20% of the policies, about five percent of premium sold and 13% of the total face value in 2008, according to a new joint project conducted by LIMRA and LIDMA, the Life Insurance Direct Marketing Association.
“For the first time, we have been able to quantify the amount of individual life insurance sold through direct channels, like the Internet, direct mail and telephone,” said Ron Neyer, senior analyst, LIMRA Distribution Research. “This includes both sales generated directly through carriers, as well as by third-party quoting aggregators. Direct marketing accounts for a much larger portion of life insurance sales than previously reported. We believe this will be valuable information for the industry to track the growth of this distribution channel in the coming years.”
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