One of the oldest types of individual annuities that the LIMRA Secure Retirement Institute tracks — the book value annuity — has won the latest games of sales growth thrones.
Sales of book value annuities soared to $10 billion in the first quarter, up 77% from the total for the first quarter of 2018.
(Related: MVA Annuity Sales Were Wicked Hot: IRI)
A relatively new type of individual contract — the indexed annuity that’s registered with the U.S. Securities and Exchange Commission as a variable annuity — also looked like sales growth royalty.
Sales of “registered indexed linked annuity” contracts, or RILA contracts, increased 59% between the first quarter of 2018 and the latest quarter, to $3.5 billion.