U.S. sales of individual annuities fell to $55 billion in the third quarter, down 7% from the total for the third quarter of 2019, according to the Secure Retirement Institute.
Although sales were down, the third quarter was stronger than the first half of the year, when sales were 16% lower than in the first half of 2019.
- Secure Retirement Institute annuity survey resources are available here.
- An article about first-quarter annuity sales figures is available here.
The Secure Retirement Institute is an arm of Windsor, Connecticut-based LL Global. Analysts there use data from annuity issuer surveys to produce the quarterly annuity sales reports.
Sales of variable annuities fell 11% between the third quarter of 2019 and the latest quarter, to $23.5 billion.
Sales of registered indexed-linked annuities, which some insurers call “buffer annuities” or “variable indexed annuities,” increased 29%, to $6.3 billion.
Sales of fixed annuities fell 3%, to $32 billion.
Sales of fixed-rate deferred annuities increased 60%, to $16 billion.
— Read After the Catastrophic 1918 Flu Pandemic, Annuities Did Fine, on ThinkAdvisor.