Fixed Annuities Soar, VAs Plummet, LIMRA Says

For the second quarter in a row, fixed annuities outsold variable annuities $35.6 billion to $30.7 billion, according to LIMRA’s U.S. Individual Annuities First Quarter 2009 Sales Report.

“The last time fixed annuities outsold variable for two consecutive quarters was in the first half of 1995,” said Joe Montminy, research director for LIMRA's annuity research. “Consumers, still leery of the volatile stock market and looking for secure, competitive guaranteed rates of return, continued to invest more money into fixed annuities for their retirement income needs.”

Fixed Annuities Soar, VAs Plummet, LIMRA Says
Source: Insurance News Net