In Q2 2012, total individual life insurance new annualized premiums increased 4 percent, and for the first half of the year, have grown 3 percent, according to LIMRA's sales survey. The policy count year-to-date is 3 percent, but was unchanged for Q2 following 5 quarters of consecutive growth.

"The biggest driver behind premium growth was indexed universal life, soaring 37 percent in the second quarter," said Ashley Durham, senior research analyst with LIMRA product research. "Indexed universal life continues to attract consumers who are interested in the opportunity for cash value growth potential while protecting their principal, which this product provides."

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