ANNUITIES NEWS


Pandemic contributes to 24% drop in Q2 annuity sales

Through first six months of 2020, total annuity sales were $104.4 billion, 16% lower than prior year, with fixed indexed annuities falling to lowest quarterly total since 2015.

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Recent Annuities News

Pandemic, low interest rates combine to cripple Q2 annuity sales

Registered index-linked annuity sales growth the lone bright spot as overall annuity sales decline 24% according to latest Secure Retirement Institute report.

Annuity sales forecast dark for 2020, brighter for 2021

The Secure Retirement Institute (SRI) is forecasting U.S. annuity sales will struggle in 2020, but are expected to rebound in 2021.

Deferred annuity sales hang tough in Q1 despite effects of COVID-19

Wink’s Sales & Market Report finds total deferred annuity sales only declined slightly in the first quarter of the year in spite of the coronavirus pandemic.

Dramatic shift in retirement investment risk tolerance could be boon for annuities

Alliance for Lifetime Income study finds 1 in 4 Americans have a lower risk tolerance for future retirement investments because of the COVID-19 pandemic.

Iowa Insurance Division adopts final ‘Best Interest’ rule for annuity sales

Iowa becomes first state to formally adopt the NAIC’s updated model, which requires annuity agents to act in the best interest of clients.

Fixed annuity sales fall in Q1, but variable annuity sales rise

Secure Retirement Institute report also finds registered index-linked annuities break quarterly sales record, topping $5 billion.

IRI offers 5-point plan to help retirement savers recover from COVID-19

Insured Retirement Institute proposes plan to assist retirement savers who have lost jobs, access to participate in a workplace retirement plan and experienced losses in their retirement account values due the COVID-19 virus pandemic.

New Yorkers affected by COVID-19 may defer paying life insurance premiums for 90 days

Hardest-hit state also sets special health insurance enrollment period April 1-15 through New York State’s Health Plan Marketplace.

Congress finalizes $2 trillion coronavirus relief bill including retirement plan aid

Legislation allows limited, early withdrawals from retirement accounts, deferred RMD in 2020.

SEC adopts investor disclosure improvements for variable annuities and variable life contracts

IRI calls amendments to streamline and simplify critical disclosures for investors in variable annuity and life insurance products a “major leap forward.”

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