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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

Despite Their Value, Most 401k Plans Not Offering Annuity Products

Despite the fact that the majority of 401k plan participants are interested in guaranteeing a portion of their retirement plan income, the advisors to the plan sponsors are not bringing up the topic of annuities. Nick Thornton of Benefits Pro recently wrote the article, "Advisors to 401(k) plans not recommending annuities," to figure out wherein lies the disconnect. Annuities are one of the only ways to guarantee a lifetime stream of income from 401k plan retirement savings. Unfortunately,... Read More

Why Fixed Indexed Annuities are Taking Over the Industry

This isn't the first time that I've discussed the popularity of fixed indexed annuity products lately, but it's all over the news. In the latest LifeHealthPro article, "FIA sales skyrocket as VA sales wane," Peggy Bresnick summarized last year's sales and talked about why indexed annuities are being used so much more for retirement planning. It has been eight straight years that we have seen increases in fixed indexed annuity sales. That's a big deal in the insurance industry. Much of that... Read More

2015 Was a Record Year for Fixed Indexed Annuity Products

After reviewing the final 2015 sales results, fixed indexed annuities had a record year and seem to be continuing their path to eventually overtake variable annuity products as the top selling annuities. Investment News' Greg Iacurci discussed the importance of last year in "Fixed indexed annuities continue their surge with record sales year." Fourth quarter indexed annuity sales of $16.1 billion were the highest ever, besting the previous quarter's record setting $14.3 billion. After those two... Read More

No-Return Deferred Income Annuities Greatly Increase Payouts

Deferred income annuities have skyrocketed in popularity over the past couple of years because of their affordable guarantees and their increasing use as QLACs in defined contribution plans. There is a new trend with deferred income annuity products that could drastically increase those already valuable payouts. Cyril Tuohy said that this "Hot Deferred Annuity Trend Can Nearly Double (your) Payout" in an article for Insurance News Net. You cannot outlive the income payments you receive from... Read More

Big Changes in Fixed Annuity Sales Leaders Indicates High Competition

Insurance News Net's Linda Koco said that the "FA Competition (is) Shifting into High Gear" in a recent article. This is in steep contrast to the variable annuity side of the business. The LIMRA Secure Retirement Institute's sales rankings revealed an interesting trend over the past few years. The quarterly sales rankings change the most, both up and down, when the annuity competition is stronger. Third quarter sales figures showed a lot of movement between annuity carriers for sales rankings... Read More

Want To Be More Confident About Your Retirement? Consider An Annuity.

The LIMRA Secure Retirement Institute recently published a review entitled Improving Retirement One Step at a Time, which looked at annuity knowledge, attitudes and ownership. They found that no matter what level of wealth they have, people who own annuities have a much better confidence level about their retirement than those who don't own annuity products. They think that they will be able to live the lifestyle in retirement that they've planned for their whole lives. This information was... Read More

Jackson National, AIG Led Second Quarter Annuity Sales

The LIMRA Secure Retirement Institute recently collected annuity sales data for their quarterly U.S. Individual Annuities Sales Survey. This information came from Investment News's article "Top 10 annuity sellers in the second quarter." Here is a summary of the second quarter sales figures before third quarter results are announced. Annuity sales increased between the first and second quarters of this year. During the second quarter, total annuity sales were $60.2 billion. This was 10% higher... Read More

Aging Population Increases Annuity Demand Even Though Rates are Low

Logical thinking would tell you that a low interest rate environment would not be a good backdrop for sales of annuities, but annuity products have continued to rise in popularity despite low interest rates. There are multiple reasons for the interest in annuity products lately, including the fact that Baby Boomers are getting older. In the USA Today article, "Annuities gain popularity as Baby Boomers age," Russ Wiles said that Americans are searching for financial security and avoiding risk... Read More

What Did NAFA Have to Say About Senator Warren Questioning Annuities?

U.S. Senator Elizabeth Warren recently questioned the ethics of annuity sales by sending letters to fifteen of the top annuity providers.  Her concern lies with the incentives offered to insurance agents for selling annuity contracts.  She is calling for a rule that ensures retirement advisors do not have a conflict-of-interest when selling annuities.  Unfortunately, her public outcry shines light on the very small percent of unethical annuity sales practices.  The majority of annuities are... Read More

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