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.
Registered index-linked annuity sales growth the lone bright spot as overall annuity sales decline 24% according to latest Secure Retirement Institute report.
The Secure Retirement Institute (SRI) is forecasting U.S. annuity sales will struggle in 2020, but are expected to rebound in 2021.
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.
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 becomes first state to formally adopt the NAIC’s updated model, which requires annuity agents to act in the best interest of clients.
Secure Retirement Institute report also finds registered index-linked annuities break quarterly sales record, topping $5 billion.
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.
Hardest-hit state also sets special health insurance enrollment period April 1-15 through New York State’s Health Plan Marketplace.
Legislation allows limited, early withdrawals from retirement accounts, deferred RMD in 2020.