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Lower Annuity Sales in 2012 for Many Reasons, Not All of Them Bad

While the total annuity sales last year were at their lowest level since 2005, I don't think that's all bad news.  Part of the reason for this decline has been steadily low interest rates combined with low consumer confidence, but there's another reason for the decline as well.  Hopefully, fewer annuities are being sold to the wrong clients as the industry works hard to get rid of unethical advisors.  It's important for the right annuities to be sold to the right people, even if that means a... Read More

LIMRA’s Retirement Saving Advice for Generations X & Y

We've talked recently about the struggles facing Generations X & Y when it comes to saving for their retirement.  Chris McMahon of Financial Planning gives us "5 Things Gens X and Y Can do for a More Secure Retirement.  LIMRA found that most of the Americans falling in the Gen X and Y categories don't have a good understanding of the financial products and services they'll need to use in order to fund a successful retirement.  There are 116 million of them in America, but their needs... Read More

Indexed Annuity Changes Not Hurting the Market

Some recent changes made to indexed annuities would hint that they are not selling well, but that is quite the opposite.  In "Indexed annuities are changing - and selling," Linda Koco of Insurance News Net discusses the current trends in the indexed annuity marketplace.  Both changes in the product offerings and decreases in commission have been common this year.  Many think this would indicate a decline in the demand for and sales of indexed annuities, but experts point out why these... Read More

LIMRA Finds Happy Annuity Purchasers

A recent LIMRA study found that most of the people who bought annuities in the past three years are happy with their purchase.  LIMRA, an insurance industry group with members from more than 850 companies in 70 countries, performed this study during the third quarter of last year.  They looked at deferred annuities purchased within the last three years by 1,200 different people over the age of 40.  This information comes from Bank Investment Consultant's "Most Annuity Buyers Satisfied:... Read More

LIMRA Shows That More Advisors Favor Annuity Products

More than half of financial advisors think that annuity products are important in the investment plans of their middle income clients.  LIMRA just performed a study detailing this and other findings, the results of which are written in Banker & Tradesman's "Most advisors approve of annuity products for clients, LIMRA study finds."  Those clients with less than $500,000 to invest are considered middle income and have the largest risk of outliving their savings in retirement.  When LIMRA... Read More

Fixed Equity Indexed Annuities Are the Bright Spot

LIMRA just put out a press release detailing the first quarter sales results for annuities.  While indexed annuities remained very strong, declines in both fixed and variable annuities led to an overall annuity sales decline in the first quarter of 2012.  Annuity sales were $54.8 billion during the first quarter, an 8% decrease from the first quarter of 2011.  Variable annuity sales had remained strong over the past two years, but went down 7% to $36.8 billion in the first quarter.  The... Read More

Immediate Annuity Rates, Guarantees, GAO Bringing Investors In

Insurance companies and financial advisors are pleased that the Government Accountability Office is recommending immediate annuities to middle income families, but they don't think that a huge sales boom is going to happen overnight.  According to Darla Mercado's Investment News article, "Financial advisers, insurers hail GAO plug for immediate annuities," the GAO is admitting that Social Security is flawed and retirees need to have added income to finance their retirement.  Despite the fact... Read More

Advisors Help With 401k Annuities & Rollovers

According to a recent survey, investors are quite uncertain with the retirement issues surrounding them and could use more help from advisors.  Danielle Andrus of Advisor One says that many people are not happy with the support offered from their employer's retirement plan in her article "Unsatisfied and Uncertain--Investors Need Advisors' Help: Retirement Report Roundup."  Cogent Research's study of investors found that more than half were unhappy with their current situation and need... Read More

Market Share Updates for Fixed, Variable Annuities & Fixed Equity Indexed Annuities

Independent broker dealers are selling a greater percentage of the total annuities market than they did in the past, according to Linda Koco of Insurance News Net.  In the article "Independent B/Ds Gain Annuity Market Share," it says that their individual market share has been increasing since the study was started in 2006.  IBD's were the top distributor of variable annuities in 2010, capturing 30% of the market share compared to their 26% in 2006.  With 24% of the market share for variable... Read More

Variable Annuities Transparent to Advisors

As sales of variable annuities increase, many advisors are concerned that companies will not be able to hedge the products.  According to "Surge in VA sales leads to capacity questions" by Darla Mercado of Investment News, advisors worry that companies won't be able to keep up with the sales increase and are looking deeper into the variable annuities they sell.  LIMRA says that $140.5 billion of variable annuities were sold last year, an increase of 10% from the year before.  Companies are... Read More

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