Repeal Of DOL Rule Boosting Fixed-Indexed Annuity Sales, Report Says

February 25, 2020 by Raymond Fazzi

The repeal of the U.S. Department of Labor’s conflict of interest rules and the new SECURE Act are helping propel sales of fixed-indexed annuities, according to a report by Cerulli Associates.

The robust performance of index strategies, growing acceptance of annuities by broker-dealers and innovative product designs are among the other factors that are expected to boost fixed-income annuity (FIA) sales, the report said.

FIA sales made up 57% of annuity sales in 2019, climbing to a new all-time high of nearly $74 million, according to Cerulli, which predicted that FIA sales will overtake variable annuity (VA) sales by 2023.

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Originally Posted at Financial Advisor on February 20, 2020 by Raymond Fazzi.