Low interest rates continue to weigh on the annuity industry, but sales of deferred income annuities increased 150 percent compared to last year and set a fifth-consecutive record high in Q1 2013, according to the “Beacon Research Fixed Annuity Premium Study.” Overall, income annuity sales grew 1.4 percent year-over-year.
“Deferred income annuities were a bright spot in a difficult quarter,” said Jeremy Alexander, CEO of Beacon Research. “Ongoing product development and increasing sales underscore the importance of generating guaranteed retirement income for consumers and their advisors.”
Register or login for access to this item and much more
All Digital Insurance content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access