It may surprise members of the Connecticut bar, but structured settlement annuities and indexed annuity placements increased in the first quarter of the year, while sales in other annuity segments declined, according to a May report released by Life Insurance Marketing and Research Association (LIMRA).
Despite first quarter declines in other segments, the U.S. annuity market still produced $54.4 billion, according to LIMRA, whose U.S. Individual Annuities Sales Survey represents data from 96 percent of the market. According to figures from LIMRA Secure Retirement Institute, fixed-income annuities are one of the two rising stars. Structured settlement annuities are a form of fixed-income annuity that may contain elements of immediate annuities and deferred-income annuities. Insurance Newsnet’s Linda Coco goes so far as to categorize the rising income annuity trend as “the income annuity meteor.”
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