U.S. indexed annuity sales reach record $36.8 billion in 2013
March 16, 2014 by N/A
Indexed annuity sales in the United States reached another record in the fourth quarter, with sales of $11.5 billion, a more than 35 percent increase from the year-earlier period, according to the newest edition of Wink’s Sales & Market Report, which tracks the industry. Annual indexed annuity sales also reached a record $36.8 billion, a year-over-year increase of 13.4 percent from 2012.
“Indexed annuities continue to gain more acceptance in bank and wirehouse distributions, as rates on traditional fixed money instruments remain low and consumers seek out the guarantees that are inherent in indexed annuities,” said Sheryl Moore, president and CEO of Moore Market Intelligence Inc. and Wink Inc. For indexed life insurance sales, fourth-quarter sales were $430.4 million, up more than 31 percent from the previous quarter, but down 2 percent from the prior year.