New sales of life insurance increased 11%...

New sales of life insurance increased 11% in 1987 to $11 billion, representing an improvement over 1986 but short of the other gains in the early 1980s, an industry group said. The Life Insurance Marketing and Research Assn., based in Farmington, Conn., said $9.8 billion in new life insurance policies were purchased in 1986. By contrast, new sales of life insurance grew 25% in 1983 and 15% in 1985, according to the trade association. The premium figures include only 10% of the money paid for single-premium life insurance, which is bought with a large lump sum.