How an Annuity Issuer Found Bliss in Tiny Market for Direct Sales
May 2, 2023 by Warren S. Hersch
Direct-to-consumer annuity sales have always been relatively small, according to Wink CEO Sheryl Moore. She noted that just eight insurers offered 18 annuities direct to consumers, and that this channel accounted for only 0.4% of $79.3 billion in deferred annuity sales in the fourth quarter.
Thus far, Moore said, Puritan Life is leading the pack in sales among the eight carriers going direct.
“The fact that they are achieving success is significant, given how many other firms have failed in their attempts” with this form of distribution, she said in an email.