Deferred-income annuities are making their mark on the insurance world, shaping up as more than an esoteric niche product.

Since New York Life first introduced its DIA about two years ago, these annuities have quickly gained in popularity, growing to a $395 million market in the first quarter of 2013, which was 147 percent higher than the first quarter of 2012, according to new LIMRA research.

Mark Paracer, senior research analyst at LIMRA, said the past year has seen lots of activity surrounding DIAs.

Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.

  • Critical BenefitsPRO information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.