Annuity Sales Reach Lowest Level in 16 Years, LIMRA Study Finds

Annuity Sales Reach Lowest Level in 16 Years, LIMRA Study Finds

In the first half of the year, total annuity sales decreased 10 percent to $105.8 billion - first half sales have not been this low since 2001 -- according to LIMRA Secure Retirement Institute’s Second Quarter 2017 U.S. Retail Annuity Sales Survey. Second quarter total annuity sales were $53.9 billion, which marks the fifth consecutive quarter of decline in overall annuity sales.

U.S. variable annuity sales were $24.7 billion, which was the fourteenth consecutive quarter of decline. Fixed annuity sales were also down at 7 percent to $29.2 billion. Fixed rate deferred annuities sales dropped 11 percent in the second quarter to $9.3 billion. Deferred income annuity sales were down 31 percent to $600 million. Single premium income annuity sales were down to $2.2 billion in the second quarter.

There were some increases, indexed annuity sales made a 15 percent increase in the second quarter to $15.6 billion. Fee-based variable annuity sales actually increased in the second quarter to $570 million.

House Approves Nearly $8 billion in Hurricane Harvey Relief

House Approves Nearly $8 billion in Hurricane Harvey Relief

Best Jobs for the Future, Kiplinger Reports

Best Jobs for the Future, Kiplinger Reports