Annuities

In December, fixed annuity production was relatively stable but variable sales continued on their upward trajectory, recording increases each month in the fourth quarter, according to the Kehrer-Jackson Monthly Bank Annuity Sales Survey.

According to a new study, for many women, retirement means living single and that requires more preparation, and more advisor aid.

Low interest rates and a market skepticism keep annuities down in 2010, but 2011 looks brighter.

Company says it will exit market to allocate resources elsewhere.

IRI study finds room for growth as consumers remain unfamiliar with benefits of annuities.

Fixed annuities sales were steady at $1.1 billion, whereas variable annuities gained $100 million from a month earlier ending November at $1.5 billion, according to data from Kehrer-LIMRA.

Strong sales over the past year prove that Americans are looking for guaranteed income.

Genworth discontinues retail and group variable annuities, while Western & Southern and Allianz put faith in new variable annuities.

Variable annuities outsell fixed, but overall sales figures are uninspiring.

The North Carolina-based company becomes the third bank to sell a guaranteed income option as part of its institutional plan offering.

The average immediate annuity premium is $107,000, and what’s more, 90% of policyholders purchase additional riders that either keep payments flowing to heirs, or that return the balance of the contract to heirs, if the contract holder dies unexpectedly early, according to LIMRA research.

Most variable annuity buyers pay extra for guaranteed living benefit riders despite weaker features and higher costs.

Sales of annuities through banks in September lost their momentum after hitting a peak for the year in March.

According to LIMRA’s Guaranteed Income Annuities report released on Monday, women buy six of every 10 immediate annuity contracts, a significant chunk of the $250 billion annuitization market.

Fixed annuities give way to variable annuity and mutual fund sales, but September was nothing to write home about.

Asset managers are in a race to develop products that provide guaranteed retirement income, effectively duplicating annuities.

Combined market volatility and low interest rates have created the ideal environment for indexed annuity sales as fixed products continue to suffer, LIMRA says.

NetX360 has a 96% adoption rate among affiliated advisors in the RIA and broker-dealer channels.

A couple of interesting surveys were released this week—and when mixed with some anecdotal evidence, they offer advisors some food for thought.

Nationwide says that quality of life for high-net-worth retirees could slip sans annuities.