Index Annuities Poised To Steal The Spotlight From Variable Annuities
September 12, 2018 by Cyril Tuohy
Sales of fast-growing index annuities could eat into the VA market’s recovery, a Morningstar analyst said recently.
Regulatory relief and the Trump administration have provided a welcome tailwind for VA sales, which finally ended their long sales slide with a slight sales uptick in the second quarter.
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Index annuities are expected to turn in record sales this year, cresting $62 billion, said Sheryl J. Moore, president and CEO of Moore Market Intelligence and Wink Inc., publisher of Wink’s Sales & Market Report.
“I agree – index annuities are the biggest threat to VAs,” said Moore. “If you ask me, index annuity sales are going to overcome variable annuity sales soon.”
Moore is projecting sales of index annuities sales to be $62.3 billion for 2018.
