Speak with a Registered Agent: 1-866-223-2121

Speak with a Registered Agent: 1-866-223-2121

Summer Sales Increase for Bank Annuities


According to Insurance News Net, sales of fixed and variable annuities increased in the bank channel during the month of June.  In the article, “Sales of Both Fixed and Variable Annuities Up at Banks,” it says that June was the first month for a sales increase since March.  The last time for a sales increase for both fixed and variable annuities during the month of June was in 2006.  It is pretty rare that both annuity products see a sales increase during the summertime.  Bank sales of fixed and variable annuities have increased 48% since the beginning of this year and are up 31% since June of 2010.

Variable annuities have been on a steady upward climb for the past year and a half.  Their sales reached $2.1 billion in June, a level which hasn’t been seen since November of 2007.  Variable annuity reviews through the bank channel have shown many happy  investors.  Sales of variable annuities are up 69% this year and have increased 52% from the sales level in June of last year.  Sales of fixed annuities were up 3% in June, which is more significant because of the large declines during April and May.  This year, fixed annuities sold through banks have increased 28%.  They are 12% higher than in June of 2010.  Even though the 5 year fixed annuity average yield is still low, investors are getting competitive fixed annuity products based on the rate for term and rate for comp.

For more information about the product mentioned in this article contact us here:

Newest Blog Posts

Information Request Form

If you have questions or would like more information, please complete this form and a licensed professional will be happy to help. For the fastest response, please select 'Phone' as your Contact Preference.

By providing your information and clicking 'Submit' above, you acknowledge that you have read and agree to this site's privacy policy. You also provide your consent to be contacted at the email address or phone number provided above (including any wireless number) by licensed agents or representatives from or on behalf of AFYI Holdings Group, LLC and other companies to provide the information requested and/or offer annuities or financial products. You understand that these calls or SMS messages may be generated using an automated telephone dialing system, a pre-recorded message, or artificial voice. Consent to receive such messages is not a condition to purchase any goods or services. You may opt out at any time by following the instructions in the messages you receive.  Receiving quotes and information through our website is free, and you are under no obligation to purchase any goods or services as a result of this request. You affirm that you are the subscriber of the provided telephone number or that the subscriber authorized you to provide the number. Message and data rates may apply. AFYI Holdings Group, LLC is committed to respecting your privacy and adhering to all applicable laws and regulations, including the Telephone Consumer Protection Act (TCPA).