Demand for annuities was so strong in the second quarter that sales of traditional variable annuities climbed to $16.5 billion, up 20% from the total recorded in the second quarter of 2023, according to new issuer survey data from Wink.
Registered index-linked annuities were theĀ annuities with the strongest second-quarter performance: Their sales increased 45%, yearĀ over year.
Sales of all types of annuities that Wink has tracked for at least a year rose 31%, to $110 billion.
The United States generated $29 billion in gross domestic product in the second quarter. Individual deferred annuity sales amounted to 0.4% of GDP.
What it means: Many retirement savers are willing to pay insurers to absorb some or all of their market risk.
Variable Annuities vs. RILAs:Ā An annuity contract is an arrangement that a client can use to accumulate assets and convert the assets into a stream of income.
