LIC Surveys and Benchmarks

Surveys and Benchmarks

Independently and also with the support of LIMRA research staff and member companies, LIC conducts systematic surveys and benchmark reports on topics that are of interest to our members. We have been tracking sales data for the Final Expense and Preneed markets for many years, and offer participating member companies the opportunity to include questions of interest to them.

LIC Final Expense Survey

Each year since 2009, the Life Insurers Council has conducted a comprehensive survey of the final expense insurance market, focusing on companies that sell through IMOs. The latest LIC Final Expense Survey Report (2023 Sales Data) covers 22 carriers with a total of $775M in final expense sales. See Order Form below to pre-order this report, which is due out in November 2024. The report is free for participating companies, and available for purchase by nonparticipating companies with a discount for LIC members.

The survey of 2024 Final Expense Sales Data will begin around March 2025. If you'd like to ensure your company is included, or to learn more, contact lic@loma.org.

LIC Preneed Survey

Each year, LIC conducts a comprehensive survey of the preneed insurance market, tracking preneed sales and inforce data since 2007. The latest LIC Preneed Survey Report (2023 Sales Data), published in October 2024, includes 16 companies with total preneed sales of $2.944B. Key findings will be presented at the LIC Preneed Forum, November 6-7, 2024 (www.loma.org/preneed).

Beginning with 2023 Preneed Sales, only participating companies will receive the report for free. The report is available for purchase for nonparticipating companies, with a discount for LIC members - see Order Form below to obtain copies of the report. To ensure your company is included in next year's study, scheduled to begin in March 2025, or for more information, contact lic@loma.org.

LIC Smaller Company Fixed Annuity Survey

Although it’s true that the largest companies produce a significant percentage of fixed annuity sales, it’s also true that there are many smaller companies who actively market and sell these products. Most industry annuity sales reports only reflect results from the largest carriers. LIC conducted a study of annuity sales data for 2019 and 2020 among companies smaller than $5B in assets.

Topics include sales and in-force for the year, as well as by month, product type, and distribution. To supplement the survey data, the report includes a deeper dive into the statutory financials showing a number of differences between large and small annuity carriers in net yield, investment expenses, salaries, travel expenses and agency conferences in response to COVID, and sundry general expenses. These reports are available at no charge.