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All About Annuities » Income Annuities, Non-GLBs Are Today’s Rising Annuity Stars

Income Annuities, Non-GLBs Are Today’s Rising Annuity Stars

Income Annuities, Non-GLBs Are Today’s Rising Annuity Stars
News from Insurance News Net:

By Linda Koco
InsuranceNewsNet

ARLINGTON, Va. – The way the individual annuity market is shaping up this year, the rising stars are variable annuities without guaranteed living benefits (GLB), and fixed income annuities.

That’s according to figures from LIMRA Secure Retirement Institute (LIMRA SRI) to be aired here Thursday at the annual Retirement Industry Conference sponsored by LIMRA, LOMA and Society of Actuaries.

Joseph Montminy, assistant vice president at LIMRA SRI, told InsuranceNewsNet that these are among the trends that he and Timothy Pfeifer will discuss at a session on individual annuities. Pfeifer is president of Pfeifer Advisory, Libertyville, Ill.

Sales of individual variable annuities with a GLB feature elected dropped by 28 percent between 2011 and 2014, he said, citing research by LIMRA SRI. Meanwhile, variable annuities sold without a GLB —either because the feature was not available or not elected — jumped by 66 percent during the same period.

Montminy provided a gl…………… continues on Insurance News Net

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