Variable annuity and indexed annuity sales rose in the third quarter of 2010 while fixed annuities sales went down. Here are the figures:
VAs with guaranteed living benefit riders rose about 18 percent in the second quarter to $20.3 billion of premiums.
When available, GLBs were chosen 87 percent of the time on new VAs.
Seventeen percent of the time guaranteed minimum income benefit riders were chosen.
Guaranteed minimum accumulation benefit and guaranteed minimum withdrawal each saw a 3 percent election rate in the second quarter of 2010.
Indexed annuity sales rose 16 percent during the third quarter to $8.7 billion.
Indexed annuities account for 41 percent of the fixed annuity market.
Variable annuities sales increased to $35 billion or 9 percent.
Sales of fixed annuities were down to $21 billion or 10 percent.
Total individual annuity sales climbed to $56 billion or 1 percent.
Sources: LIMRA, ProducersWEB.com, Annuitspecs.com, Ernst and Young