3Q EIA Sales Rose 31% Over 3Q Last Year

This years 3^rd quarter sales were down slightlyby 0.75%, to be exact–from 2^nd quarter 2001 figures, he notes. But EIA sales for the first nine months of 2001 were up 8.5% over the same nine-month period in 2000, he says, so the 2001 sales picture strongly favors industrywide growth.

In the 3^rd quarter, Midland National bumped Allianz out of first place, a position it has held in the Advantage Group quarterly rankings since the 2^nd quarter of 2000. For the quarter, Allianz took second place

Third, fourth, and fifth place went to American Equity, AmerUS Group, and Jackson National, respectivelythe same positions all three companies held in the 2^nd quarter.

“Most likely, 2001 will be a record-setting year for equity index annuity sales,” predicts Marrion.

“Annual reset policy structures and crediting methodologies that use averaging continue to dominate the market,” he says. “EIAs having surrender periods of 10 years or longer account for four out of five sales. Policies paying commissions of 9% or more represent 79% of the sales.”

Reproduced from National Underwriter Life & Health/Financial Services Edition, December 17, 2001. Copyright 2001 by The National Underwriter Company in the serial publication. All rights reserved.Copyright in this article as an independent work may be held by the author.

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