Total annuity sales have best quarter in a decade, led by fixed annuity sales hitting all-time high, LIMRA Secure Retirement Institute reports.
After a nine-month search, the National Association for Fixed Annuities announces Charles J. “Chuck” DiVencenzo will take over as its new President & CEO on April 1.
Year-to-date, Fixed Indexed Annuity sales are 22% higher than the first three quarters of 2017. Variable annuity sales continue to rebound, increasing 25% from prior year according to 3Q sales report from LIMRA Secure Retirement Institute.
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.