Fixed index annuity sales continue to climb, according to data just released by the Insured Retirement Institute (IRI) and Beacon Research. Fourth quarter sales totaled $7.6 billion, representing a 3.2% increase over the previous quarter, IRI and Beacon found, with total fixed index annuity sales for 2009 at $30.2 billion, posting a year-to-year increase of $3.5 billion. Total fixed annuity sales were $105.1 billion in 2009, the groups say, just 2% less than the record high in 2008.
“Fixed annuity sales in 2009 were second only to the record-setting prior year,” said Jeremy Alexander, president and CEO of Beacon Research, in a statement. “Due to strong demand for secure retirement savings and income alternatives, 2009 results were achieved despite financial pressures on consumers and other challenges.”