American Equity CEO Sees ‘Irrational’ Behavior Among Annuity Sellers
May 24, 2023 by Cyril Tuohy
Sheryl Moore, CEO of Wink, publisher of Wink’s Sales & Market Report, which tracks the indexed annuity market, said the firm has seen more rate reductions so far in the second quarter than in the first quarter.
She said in an email that a review of indexed annuities using an S&P 500 annual strategy found that the highest cap was 15%, with a median rate of 8.1%.
She also noted that in the first quarter many agents selling indexed annuities pivoted to fixed-rate products because rates were so competitive for short terms “that it was often not only a simpler sale, but also a ‘safer’ sale.”
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