Annuity Sales Move In an Amazing Way

The institute includes indexed annuity results in the fixed annuity total.

Indexed annuity sales climbed 17%, to $18 billion, but some other types of annuities posted even bigger gains.

Sales of book value annuities, for example, increased 24%, to $7.2 billion.

Todd Giesing, the institute's annuity research director, said in a statement that all major indexed annuity issuers reported strong sales in the second quarter.

"Clearly, with the Department of Labor's fiduciary rule vacated and the prospect of continued rising interest rates, demand for this product is high," Giesing said.

Sales of variable annuities are not increasing in the same way, Giesing said.

"However, the new and enhanced VAs, combined with the vacated DOL rule and better economic conditions, have led to slightly improved sales," Giesing said.

— Read Annuity Sales Stabilize: LIMRA, on ThinkAdvisor.

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