Variable Annuities Attract Premium Deposits in Year 2: Study

November 20, 2023 by Allison Bell

Some variable annuity buyers put more cash in during the second year that they own the contract.

About 5% to 6% of the owners of contracts with guaranteed lifetime withdrawal benefits add premium deposits during the second contract year, according to a team of analysts from LIMRA and the Society of Actuaries Research Institute.

For owners of variable annuities with GLWB riders, the percentage who took withdrawals increased to 44% in 2021, from 37% in 2019.

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Originally Posted at Think Advisor on November 16, 2023 by Allison Bell.