What You Need to Know
- Sales of index-linked variable annuities continue to soar.
- Indexed annuities that are classified as fixed annuities performed much better than traditional fixed annuities.
- MYGA sales fell 31%.
Consumers’ inflation fears helped sales of individual annuities that offer income growth potential in the third quarter and hurt sales of other individual annuities.
Wink has reported the details in a summary of results from its latest annuity issuer survey.
Overall sales of individual deferred annuities climbed 10% between the third quarter of 2020 and the third quarter of 2021, to $60 billion.
Sales of both types of variable annuities that Wink tracks climbed more than 25%. Sales of non-variable indexed annuity contracts — which promise to protect the holder’s account value but have features that can increase the crediting rate — also climbed more than 25%.