Insurers have kept the press release wires burning in recent years with announcement after announcement about the launch of new, fee-based life insurance and annuity products.
LIMRA reported in November that, in the third quarter of 2017, actual sales of fee-based indexed annuities accounted for just $48 million of the $14 billion in indexed annuity sales recorded that quarter.
David Lau, the founder and chief executive officer of Louisville, Kentucky-based DPL Financial Partners, said Thursday, in an interview, that there's a simple reason fee-based life and annuity product sales have been low: typical insurers have paid too little attention to the needs of RIAs, the people who have been selling fee-based products all along.
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Allison Bell
Allison Bell, ThinkAdvisor's insurance editor, previously was LifeHealthPro's health insurance editor. She has a bachelor's degree in economics from Washington University in St. Louis and a master's degree in journalism from the Medill School of Journalism at Northwestern University. She can be reached at [email protected] or on Twitter at @Think_Allison.
