Expect solid growth for indexed annuities through 2023
April 10, 2019 by Insurance Forums Staff
Indexed annuities are positioned for significant growth through 2023 while the market share for variable annuities will continue to erode, according to a new LIMRA Secure Retirement Institute (LIMRA SRI) analysis of sales and market trends.
LIMRA SRI released its annuity sales forecast for the next five years on April 4, predicting fixed annuities will remain in the spotlight.
LIMRA SRI’s midpoint forecast for overall annuity sales growth is about 5% in 2019. The increase will be primarily driven by indexed and fixed-rate annuity sales, offsetting declines in the variable annuity (VA) market. Looking ahead to 2023, LIMRA SRI predicts overall annuity sales could exceed $280 billion. However, significant uncertainty around the regulatory and political environments could undercut the sales prediction.
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