At 10 Smaller Annuity Issuers, Third-Quarter Sales More Than Doubled
December 21, 2020 by Cyril Tuohy
In April, Wink said the insurer offered the best rates on five different multi-year guaranteed annuities that had terms from three to 15 years.
“MYGA specials” were also a factor in the third quarter, according to Sheryl Moore, CEO of Wink, publisher of Wink’s Sales & Market Report, which tracks the annuity marketplace. She said buyers found it hard to resist rates that could be as high as 4% for five years.
She told InsuranceNewsNet the market seems to be returning to a “late ‘90s mentality” where many insurance salespeople, particularly those who aren’t licensed to sell securities, are seeing that the multi-year annuities are easy to sell.
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