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18 an annual average rate of 5 per cent during the past decade. Continued premium growth indicates that life and health insurers are very competitive for the consumer's disposable income. The industry's premium income accounted for 8.6 per cent of the personal disposable income in the country during 2013, up from 7.9 per cent a decade ago. General fund policies generated $60.7 billion (or 66 per cent) of the 2013 premiums, up 5.2 per cent from the 2012 levels. At the same time, despite deposits being well below the 7.7 per cent average growth rate of the past decade, segregated fund deposits rose (1.8 per cent) to a new record high of $31.5 billion. Segregated fund products produced 34 per cent of total 2013 premiums; 10 years ago, they amounted to $15 billion or 26 per cent of the total. (The sources of premium income by region in Canada are shown in the chart on this page.) Life insurance premiums Premiums for life insurance products totalled more than $17.2 billion during 2013, up 4.1 per cent from the previous year. Of this amount, 76 per cent was from individual life insurance policies and 24 per cent from group life insurance. Of individual life insurance premiums, 12 per cent were single premiums, 9.4 per cent were first year premiums on multi-year contracts, and 78.6 per cent were renewal premiums on such contracts. Almost three-quarters of the 2013 total was for permanent life insurance, with 42 and 29 per cent for whole life and universal life policies, respectively. Term life products accounted for the remainder. During 2013, more than half of the group life insurance premiums 6.3% 10.9% 17.4% 22.1% 43.3% Sources: OSFI, CLHIA Includes business of insurance companies (life and property and casualty), fraternal benefit societies, and not- for-profit health care benefit providers such as provincial Blue Cross organizations Includes premium equivalents for uninsured contracts administered by life insurance companies and not-for- profit health care benefit providers such as provincial Blue Cross organizations Total Premium Income by Region – 2013 Disability income 23.3% Medical/hospital 43.4% Dental care 20.4% Creditors' disability* 5.4% Other benefits 7.5% Source: CLHIA special survey ("Health Insurance Benefits in Canada – 2013") Includes business of all health care providers, including insurance companies (life and property and casualty), fraternal benefit societies, and not-for-profit health care benefit providers such as provincial Blue Cross organizations Includes premium equivalents for uninsured contracts administered by life insurance companies and not-for- profit health care benefit providers such as provincial Blue Cross organizations *Includes Creditors' critical illness coverage Total Health Premiums by Benefit Type – 2013