Sales of indexed annuities and indexed life insurance policies were significantly higher in the fourth quarter of 2010 than in the fourth quarter of 2009, according to AnnuitySpecs.com.
Sales of indexed annuities increased 19%, to $8.3 billion, and sales of indexed life increased 36%, to $221 million, according to AnnuitiesSpecs.com, Pleasant Hill, Iowa.
The company has based those figures on results from a survey of 39 indexed annuity carriers and 37 indexed life carriers.
“I predicted that we’d continue to see record sales of indexed annuities after the market collapsed in 2008, and I’m happy to see that has proven accurate–three years running” Sheryl Moore, president of AnnuitySpecs.com, says in a statement about the results.
Indexed annuities now account for about 40% of all fixed annuities sold, Moore says.
Indexed life insurance is out-selling variable universal life insurance, Moore says.