In 2005, 40% of Indexed Annuities Sold Had This. Today? 1.6%.
January 10, 2023 by Aaron Smith
Sheryl Moore, CEO of market research firm Wink, thinks the monthly summing method appeared in about 2004. The following year, two-fifths of fixed-indexed annuities sold had this feature.
Last year, through the first three quarters, only 1.6% did, a stunning decline. MassMutual Ascend, the former Great American, is phasing out the monthly summing option on certain annuities, according to Moore, who also publishes Wink’s Sales & Market Report. MassMutual Ascend didn’t comment.