FIA Riders Reach Inflection Point

May 24, 2017 by Cyril Tuohy

With annuity sales forecast to drop across the board by up to 10 percent this year, pickings for advisors may be rather slim indeed.

But an important shift away from annuities with guaranteed living benefits (GLBs) signals that advisors are focused on accumulation and away from income, a least for the time being, a market expert said Monday.

In the first quarter, annuity companies sold $6.7 billion worth of fixed indexed annuities (FIAs) without GLBs. This compares with $6.5 billion worth of FIAs sold with GLBs, said Todd Giesing, assistant research director of LIMRA Secure Retirement Institute.

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Originally Posted at InsuranceNewsNet on May 23, 2017 by Cyril Tuohy.