New LIMRA SRI study of annuity owners finds the top two reasons consumers buy annuities are to supplement Social Security/pension income and to receive guaranteed income payments for life. Two-thirds of pre-retirees say having enough money to last their lifetime is one of their top three goals of retirement.
Non-variable annuity sales for the third quarter of 2018 increased 4.72% as compared to the prior quarter, and improved 0.46% as compared to the same period last year, based on preliminary sales by Wink’s Sales & Market Report released on Nov. 14.
An amendment in The Family Savings Act, HR 6757 passed by the House of Representatives on Sept. 27, would improve access to annuities by removing barriers restricting the types of small business employers permitted to band together to offer a retirement plan.
Under the new plan, effective September 15, the company will no longer accept applications for annuities or new retirement plans, while continuing to service and support existing clients in both businesses. As a result of this decision, the company will reduce its workforce by approximately 300 positions.
New LIMRA Secure Retirement Institute report shows increase bumped by spike in fixed indexed annuity sales.
Upcoming edition of Wink’s Sales & Market Report for deferred non-variable and structured annuity sales shows 22% growth for indexed annuities compared to the first quarter of the year.
Envestnet insurance integration enhances advisors’ wealth management capabilities.
Improved economic and regulatory conditions have prompted LIMRA Secure Retirement Institute to forecast total annuity sales to increase 5-10% in 2018 and improve up to 5% in 2019.
Industry-wide annuity sales up slightly according to IRI’s First Quarter 2018 Annuity Sales Report.
With the DOL fiduciary rule being vacated, the LIMRA Secure Retirement Institute is now forecasting an indexed annuity sales increase between 5 and 10% this year.