Variable Annuity Decline Shuffles Annuity Sales Leaders

The LIMRA Secure Retirement Institute just published their quarterly annuity sales report detailing the "Top 10 annuity sales leaders" from the first quarter. In an article for LifeHealthPro, Kristen Beckman listed the top sellers and discussed the big power shift between fixed and variable annuities. Their data includes information from 64 companies who make up 96% of all annuity sales. Total annuity sales were $59 billion in the first quarter. Fixed annuity sales of $32.3 billion were higher... Read More

Read This Before You Exchange Your Variable Annuity

There are many reasons why you might consider exchanging your variable annuity product. You might be looking for a better deal, your needs might have changed, or perhaps your insurance company is initiating a variable annuity exchange. Whatever the reason, there are a lot of details to look into before you make the final decision to exchange your annuity. MetLife Securities Inc. was recently fined $20 million by FINRA because of the way they represented their variable annuity products. The... Read More

Distribution Channels for Fixed Indexed Annuity Sales Changing After DOL Rule

The majority of fixed indexed annuity products are sold through independent insurance agents. But after the final DOL fiduciary rule was announce on April 6, it's much less desirable for insurance companies to sell these annuities through independent agents. The insurance companies will be held liable for the BICE requirements because the independent marketing organizations that represent agents aren't considered financial institutions that can take on the liability. Banks and independent... Read More

Survey Shows High Hopes for Fixed Indexed Annuities This Year

Back in March, Saybrus Partners, Inc. surveyed a group of financial professionals regarding their expectations about fixed indexed annuity sales for this year. Their expectations were very high, but keep in mind that this survey occurred before indexed annuities were included in the DOL fiduciary rule's BICE requirements. Earlier this month NAFA summarized the findings in an article for their Annuity Outlook Magazine entitled "Survey Finds Vast Majority of Financial Professionals Expect... Read More

Why You Should Have An Annuity In Your Retirement Plan

Annuities are a big business, both for advisors and the insurance companies and other channels who sell them. But just because there is money to be made selling annuity products, it doesn't negate the benefits that consumers receive from these products as well. In an article for Main Street, Mark Henricks says that "Buying an Annuity Should be Part of Your Retirement Strategy." From 2010 to 2015, individuals bought more than $1 trillion worth of annuities. 2015 was an especially good year for... Read More

Many New Players in the Fixed Indexed Annuity Game

Before the final DOL ruling which included indexed annuities in the BICE rule requirements, indexed annuity products were the hottest news in the annuity industry. Sales skyrocketed in 2015 and many companies who weren't big players in the industry before came onto the scene strong. Insurance News Net's Cyril Tuohy wrote about the top selling companies and channels in the article "Crashing The FIA Party: Not Just The Top Companies Driving Growth." It remains to be seen what will happen in the... Read More

Indexed Annuity Sales Winners and Losers

2015 was a record breaking sales year for fixed indexed annuity products, especially in the fourth quarter. Nationwide Financial and AIG had the largest gains last year in indexed annuity sales. Investment News' Greg Iacurci summarized last years winners and losers in the article "Nationwide, AIG see huge gains in fixed indexed annuity sales; Allianz and Security Benefit flounder." 2015's record sales hit $54.5 billion, partly because of continued low interest rates, market volatility, and... Read More

Fear of Death Keeps People Away from Annuities

Economists have long wondered why more people don't buy annuity products when their benefits make great sense in retirement planning. Two marketing professors from Boston College recently researched why annuities aren't more popular and their answer is actually rather surprising. James R. Hood summarized the findings in the Consumer Affairs article "Researchers find out why Americans don't buy more annuities." The researchers found that in short, Americans don't buy annuities more often because... Read More

The Final DOL Move Shocked the Indexed Annuity Industry

We've been anticipating the finalized DOL fiduciary rule for months now and it has finally been revealed. The Department of Labor's final ruling was released yesterday and it contained some surprises for the fixed indexed annuity industry in particular. This information comes from the Investment News article, "Variable and fixed-indexed annuities feel sting of DOL fiduciary rule," by Greg Iacurci. The proposed rule actually benefited fixed indexed annuities, but the final rule really increased... Read More

Longevity Annuities Help Solve for Longevity and Market Risks

Market volatility has been brutal to many Americans' savings and retirement planning. Interest rates have been low for a long time and the market hasn't exactly been stable so far this year. These things are making many people question the stability of their retirement. According to Anna Robaton's CNBC article "Volatility driving retirees to think longevity annuity," many retirees are solving this retirement planning crisis by purchasing an annuity. Annuities are contracts with insurance... Read More

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