Insurance provides continue to roll-out new annuity products to meet demand for lifetime income products, even as the Department of Labor finalizes a fiduciary rule that could severely impede how industry markets those products.
The Insured Retirement Institute’s annual state of the industry report suggests demand for lifetime income products is strong, and likely to grow in light of an aging country.
Sales of Investment Oriented Variable Annuities have grown 94 percent over the past five years, and now make up 16 percent of all variable annuity sales, the report found.
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
