Record sales of annuities may reflect larger retirement savings trend
March 11, 2015 by LIMRA
When LIMRA Secure Retirement Institute released its 2014 annuity sales figures, income annuities — fixed immediate and deferred income — both achieved record sales despite a decrease in interest rates during the year.
Declining rates usually hold down sales of interest-sensitive products such as income annuities, so record-high sales defies typical market behavior. LIMRA Secure Retirement Institute research suggests that the growing trend of retirees and pre-retirees seeking guaranteed income could be a contributing factor.