Sales of fixed annuities without market-value-adjustment features increased to $8.2 billion in the second quarter, up 4% from the total for the second quarter of 2010.
Sales of fixed annuities with MVA features fell 12%, to $1.5 billion, and indexed annuity sales fell 2%, to $8.4 billion, according to Beacon Research Publications Inc., Evanston, Ill.
Sales of income annuities increased 3%, to $2.3 billion.
Overall fixed annuity sales held steady at about $20 billion.
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Beacon has published those figures in a report based on a survey of annuity issuers that covers about 600 products.
A fixed annuity MVA feature affects annuity holders who cash out early. If an MVA provision is in place, the issuer will adjust the value of the cash that can be taken out to reflect the interest rates in effect at the time the holder withdraws the cash.