Indexed annuity production down slightly
By Gary Linnell
ProWEB Wire (Industry News)
The Indexed Sales & Market Report indicates that indexed annuity sales totaled $8.3 billion in the second quarter -- down 0.1 percent from the same period last year.
The survey of 43 carriers who represent 99 percent of indexed annuity production, finds that sales were up more than 22.8 percent since the quarter previous.
According to the President and CEO of AnnuitySpecs.com, "This is definitely the year of the indexed annuity. With CD rates at 1 percent and fixed annuities crediting a mere 3.65 percent on average, it is no wonder that this was the second-highest quarter in terms of indexed annuity sales."