Lincoln Steers Annuity Distribution Into IMO Channel With New Deal
August 28, 2018 by Cyril Tuohy
A distribution deal between Lincoln Financial and a Georgia-based independent marketing organization (IMO) to exclusively market a new index annuity is the latest sign of the insurer’s push into the channel.
Click HERE to read the full story via INN; subscription required.
………………………………………………………………………………………………….
As of the fourth quarter last year, 31.7 percent of all index annuity sales were proprietary, or available to a limited number of distributors, according to Sheryl J. Moore, president and CEO of Moore Market Intelligence and Wink Inc., publisher of Wink’s Sales & Market Report.
“The reason such a large percentage of sales are proprietary is because marketing organizations want something unique to recruit to, in terms of product,” she said.
…………………………………………………………………………………………………..
Second-quarter index annuity sales rose 18 percent to $17.3 billion, compared with the year-ago period and rose nearly 22 percent compared with the first quarter, Wink reported.
Sales of index annuities least year fell 7 percent to $54 billion over 2016.
