Life insurance premiums increased 11.9% in the 12 months to June 30, according to figures from Plan For Life.

Total premium inflows were $10.9 billion, up from $9.7 billion in the previous financial year.

Individual life lump sum premiums were $5.2 billion, up 9.9% on 2010/11, while income protection sales rose 10.6% to $2 billion.

Group life insurance was a strong performer, with premiums up 15% to $3.7 billion.    

The main players in the life market reported double-digit growth for the year.

AIA saw premium growth of 33.5% to $1.17 billion, giving it a market share of 10.8%. CommInsure reported premium growth of 21.6% to $1.48 billion, while Westpac was up 18.3% to $564 million.

Market leader AMP saw premium growth of 8.9% to $1.7 billion, while MLC could muster only a 3.8% increase to $1.5 billion.