In 2013, fees and commissions from annuity sales produced $3.43 billion in revenue, up 9% from 2012, according to the Michael White Bank Annuity Fee Income Report.
Fixed indexed annuities have helped drive overall industry growth, as advisors at large B-Ds and wirehouses embrace the controversial products.
New funds provide hedging tools to limit or amplify clients' currency exposure on their foreign investments.
After variable annuity sales plunged in 2012, expectations are high for the coming years for new players and higher sales.
People underestimate the chances of dying from likely causes, like heart failure, while overestimating the chances of dying from an unlikely cause, like murder. This can cause big mistakes in retirement planning.
Firm's partners say they wanted 'control of our destiny -- we wanted to own our own equity.'
The move is part of a shift of emphasis from life insurance "to a more well-rounded protection and retirement planning approach."
Meet the most productive young advisors in America.
Investment advisors will play a critical role in helping the nearly 80 million baby boomers and future generations develop a sustainable plan for retirement, a pair of senators said on Wednesday.
ING U.S. will begin selling fixed annuities through Allstate agencies as the largest publicly traded U.S. auto and home insurer ceases to offer its own brand of the retirement products.
Lincoln National topped $10 billion in individual variable annuity sales in the nine months ended Sept. 30, the most in at least six years, as rivals retreated from the contracts.
Such annuities typically mean watered-down guarantees and theres not a lot of demand for that, a panel of speakers said at LIMRAs 2013 annual conference on Monday.
The firm was praised for its client marketing materials at the annual Retirement Income Industry Association conference. Allianz and Principal were also honored.
IRS private letter ruling gives heirs choices about annuities.
Advisors may say they're comfortable developing retirement income strategies -- but none seem to agree on the right way to create an income stream.
Despite a tarnished reputation, annuities make sense for some clients. Even so, advisors highlight some of the biggest challenges they face in using annuities for clients.
In the first half of 2013, they generated $283.3 million in revenue, the most theyve made in the first six months of any year since 2007.
Lincoln joins about a dozen companies who either offer or have filed to offer an annuity product that is gaining traction in the market.
In the second quarter, fixed annuities experienced highest quarterly sales since 2011, according to data from Morningstar and Beacon Research.
Deferred income annuities last year generated about $1 billion in sales and are expected to be the fastest growing annuity product.
Clients who inherit an annuity may now have a few more options thanks to a recent private letter ruling from the IRS.
During the first quarter of 2013, banks generated $790.7 million in annuity sales, up 1.2% from $781.7 million in the same quarter last year.
A study by the Congressional Budget Office counteracts longstanding conventional wisdom that retirees should hold at least some of their portfolio in annuities
Hartford Financial Services Group Inc. agreed to sell its U.K. variable-annuity business to Berkshire Hathaway Inc. for about $285 million in cash.
For a majority of financial advisors, life insurance planning isnt all its cracked up to be.
A week after investors pulled out of low-grade bond funds at record levels, INGs chief investment officer Christine Hurtsellers said that the selloff is overdone.
Annuity providers generated $51.7 billion in sales in the first quarter, down 6% from a year earlier.
Immediate annuities, also known as income annuities and payout annuities, can replace disappearing corporate pensions, but sales have been tepid. Insurers have responded with some significant bells and whistles.
Principal Life Insurance Co. plans to roll out a variable annuity called Principal Lifetime Income SolutionsSM on Aug. 1.
For years, Lincoln Financial has effectively been raising prices on its variable annuities, yet consumers keep buying. The companys VA business exceeds desired levels now, so further price increases have been announced: cutbacks in benefits offered to consumers. The expected result is a boost in second-quarter business but a slowdown in the second half of 2013.
New product focuses on those approaching or already in retirement and is designed for maximized guaranteed lifetime income.
The programs generated a generous $521.6 million in income for the banks in 2012, the most they have ever produced in the five years that such data has been collected.