Why Indexed Annuity Sales Are So Strong
April 4, 2019 by Kerry Pechter
For Jim Fahey, an Ameriprise advisor in Center Valley, PA, 2018 was a hockey-stick year for fixed indexed annuity (FIA) sales. “FIAs were roughly 25% of my business in 2017. But in 2018 they represented 50% to 60%,” he said this week. “I still have variable annuities on the books but I don’t think I sold any last year.”
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There was a large demand for indexed annuities in 2018 for two main reasons: Volatility in the markets and continued low interest rates on fixed money instruments such as CDs and fixed annuities,” Sheryl Moore of the annuity sales tracker, Wink, Inc., told RIJ in an email this week. “Eighteen of 20 indexed annuity manufacturers had increases in sales from the prior year.
