DES MOINES, Iowa — The United States life insurance industry experienced a notable and broad-based upward trajectory during the second quarter of 2026, driven by consistent consumer demand across nearly all major product categories. According to the 116th edition of Wink’s Sales & Market Report, published by market research and competitive intelligence firm Wink, Inc., total life insurance sales surpassed $3.1 billion for the period. This milestone marks a 6.5% increase compared to the first quarter of the year and a 6.4% rise year-over-year when measured against the corresponding period in 2025.
The report, widely regarded as the insurance sector’s premier resource for comprehensive product sales data since its inception in 1997, encompasses a thorough evaluation of fixed universal life (UL), indexed universal life (IUL), variable universal life (VUL), indexed whole life, traditional whole life, and term life insurance products. Industry analysts attribute the sustained growth to macroeconomic factors, evolving consumer planning strategies, and shifting demographic needs that place a premium on both financial protection and wealth accumulation vehicles.
Comprehensive Overview of Total Life Insurance Performance
Across all distribution channels and product configurations, total life insurance sales demonstrated resilient growth throughout the second quarter of 2026. Transamerica secured the position of the number one overall life insurance seller for the quarter, commanding a 7.0% market share. A significant driver of Transamerica’s success was its flagship indexed universal life offering, the Transamerica Financial Foundation IUL II, which emerged as the top-selling individual life insurance product across all categories and channels combined for the quarter.
The broader universal life segment—which aggregates fixed, indexed, and variable universal life products—generated $1.2 billion in sales. This figure represents a 5.8% increase from the previous quarter and a 4.3% expansion compared to the same timeframe in 2025. Within the universal life category, Prudential claimed the top ranking for overall sales, capturing a 10.9% market share, further solidifying its competitive standing in the modern insurance marketplace.
Non-variable universal life products, which combine fixed and indexed universal life configurations, also contributed positively to the market dynamics. Sales for non-variable UL products reached $872.7 million, reflecting a modest 2.4% sequential increase from the prior quarter, though down 2.2% on an annualized basis. National Life Group maintained its dominance in this specific sub-category, retaining the number one overall sales ranking with a market share of 14.8%, bolstered heavily by the widespread market penetration of the Transamerica Financial Foundation IUL II product.
Detailed Breakdown by Product Segments
A granular examination of the individual insurance lines reveals distinct consumer preferences and varying growth trajectories across fixed, indexed, variable, whole, and term life products. Each category exhibited unique performance metrics and competitive shifts during the second quarter of 2026.
Fixed Universal Life Insurance
Fixed universal life sales totaled $65.2 million during the second quarter, showing marginal sequential growth of less than 1% compared to the first quarter, while experiencing a 6.0% decline relative to the same period in the previous year. Nationwide maintained its stronghold at the summit of the fixed universal life market, capturing a commanding 22.5% market share. The top five carriers in the fixed UL category were rounded out by Pacific Life Companies, Protective Life Companies, John Hancock, and Massachusetts Mutual Life Companies, in that respective order.
Nationwide’s CareMatters II product secured the title of the top-selling fixed universal life insurance product for the second consecutive quarter across all combined distribution channels. Product objectives within this segment heavily favored protection-oriented features, with No Lapse Guarantee provisions capturing 36.5% of total sales. Furthermore, the average fixed UL target premium rose to $7,207, representing a nearly 6.0% increase from the prior quarter.
Indexed Life Insurance
Indexed life sales, encompassing both indexed universal life and indexed whole life products, reached $811.0 million in the second quarter. This performance represented a 2.7% increase over the previous quarter, though down 1.7% year-over-year. National Life Group retained its leadership position in the indexed life sector with a 15.7% market share, followed closely by Transamerica, Pacific Life Companies, John Hancock, and Nationwide.
Cash accumulation emerged as the dominant primary product objective for indexed life sales, accounting for 72.1% of the market’s activity during the quarter. The average indexed life target premium stood at $12,174, marking a decrease of nearly 6.0% compared to the preceding quarter.
Commenting on the broader trends within the indexed life market, Sheryl J. Moore, CEO of both Moore Market Intelligence and Wink, Inc., highlighted emerging distribution shifts. “It appears that multi-level marketing firms are advancing indexed life sales,” Moore observed. She added, “It will be interesting to see if the companies underwriting products for these firms improve the retention issues that are associated with this distribution method.”
Variable Universal Life Insurance
Variable universal life (VUL) insurance experienced the most dramatic percentage growth of any major category during the second quarter. VUL sales surged to $363.9 million, marking a robust 15.1% increase from the previous quarter and a striking 24.5% jump compared to the same period in 2025.
Prudential maintained its position as the market leader in VUL sales, securing a dominant 31.8% market share. The top five VUL providers were completed by Pacific Life Companies, John Hancock, Nationwide, and RiverSource Life, respectively. Pruco Life’s PruLife Custom Premier II retained its status as the top-selling VUL product for the second consecutive quarter. Cash accumulation served as the primary objective for 68.2% of VUL sales, while the average target premium decreased by approximately 12.0% to $20,424.
Whole Life Insurance
Traditional whole life insurance continued to command the largest absolute volume among all product lines, generating over $1.3 billion in first-quarter sales. This performance represented a 7.4% sequential increase and an impressive 18.2% expansion year-over-year. Final expense policies dominated the product category, capturing 69.5% of all whole life sales. The average premium per whole life policy rose to $4,109, up more than 6% from the prior quarter.
Highlighting the sheer scale of the whole life market, industry observers noted the substantial gap between whole life and its nearest competitors. As market commentary emphasized, the market share for whole life insurance remains exceptionally strong, maintaining a nearly 17% lead over the next-nearest product line, indexed life.
Term Life Insurance
Term life insurance sales registered at $553.2 million for the quarter, reflecting a 6.0% increase from the preceding quarter, though remaining down by more than 11% compared to the same period in the previous year. Prudential ranked number one in term life sales with a 6.8% market share, followed by Pacific Life Companies, Protective Life Companies, Corebridge Financial, and National Life Group.
Protective Life’s Classic Choice Term 20 secured the title of the top-selling term life product for the second consecutive quarter. The average annual term life premium per policy reported for the quarter climbed to $2,008, an increase of over 5% compared to the previous quarter.
Background Context and Industry Implications
The release of the 116th edition of Wink’s Sales & Market Report provides critical baseline data for life insurance carriers, reinsurers, distributors, and financial advisors navigating an evolving economic landscape. Wink, Inc. has built its reputation on delivering exhaustive competitive intelligence since 1997, tracking metrics that include sales by product type, company market share, indexing methodologies, distribution channels, surrender charge periods, and guarantee structures.
The firm’s analytical framework is supported by a leadership team with decades of cumulative industry experience. CEO Sheryl J. Moore, a recognized authority on life insurance and annuity trends, draws upon a deep background as a market research analyst for major carriers. Her insights frequently guide strategic planning across the domestic and global financial services sectors.
The second-quarter data indicates that while traditional products like whole life continue to anchor consumer preferences—largely driven by final expense planning—accumulation-focused vehicles such as indexed and variable universal life are capturing significant capital. This bifurcated demand underscores the adaptability of modern life insurance portfolios, which increasingly serve dual roles as both risk-mitigation tools and sophisticated wealth-building assets.
As the industry looks toward the second half of the year, carriers and distributors will likely monitor persistency rates, distribution model evolutions—particularly concerning multi-level marketing channels—and shifting consumer premium targets to maintain momentum in a competitive marketplace.
