IRI Sees Strong Sales of Plain-Vanilla Fixed Annuities
April 12, 2022 by Allison Bell
A new U.S. individual annuity market report shows that sales of plain-vanilla fixed products soared in the fourth quarter of 2021.
Sales of book value fixed annuities increased 50% between the fourth quarter of 2020 and the latest quarter, to $6.6 billion, according to the Insured Retirement Institute.
A book value annuity is a traditional fixed annuity. It pays the same rate of return even if the holder withdraws money before the end of the annuity contract period.