Close
ThinkAdvisor

Life Health > Annuities

Banks See Annuity Sales Decline In December

X
Your article was successfully shared with the contacts you provided.

Sales of annuities in banks fell to $3 billion in December, down 15% from $3.5 billion in December 2004.

December sales were divided about evenly between fixed and variable products, at around $1.5 billion each, according to results of a survey conducted by Kenneth Kehrer Associates, Princeton, N.J.

Fixed annuity sales were down 22% from $1.9 billion a year earlier, while VAs sales were down 7% from $1.6 billion in December 2004.

Bank annuity sales declined in 6 of the 8 months ending in December, noted Greg Salsbury, chief sales officer at Jackson National Life Insurance Company’s Institutional Marketing Group, Lansing, Mich. Jackson National sponsors the Kehrer survey.

More on this topic