Registered index-linked annuity sales are climbing — and so are sales of the RILA's older siblings, non-variable indexed annuities.
Sales of non-variable indexed annuities climbed 29% between the first quarter of 2023 and the first quarter of 2024, to $29 billion, according to new issuer survey data from Wink.
"Continued attractive rates benefited the product line," Wink says in a comment on the data. "It is projected that indexed annuity records will set records again in 2024."
What it means: Relatively high interest, the aging of the baby boomers and lingering investor concerns about market volatility continue to push individual annuity sales higher.
Non-variable products vs. variable products: Sales of all types of U.S. individual annuities that Wink has been tracking for at least a year increased 18%, to $100 billion.
