Advisors Taking A Shine To Fixed Immediate Annuities

Published Tuesday, July 29, 2008

As more Boomers retire and seek guaranteed sources of income for life, sales of immediate annuities are picking up—primarily fixed immediate annuities. First quarter fixed immediate annuities sales were up 21 percent, or $1.7 billion, versus the year-ago period, according to LIMRA International, a Windsor, Conn.-based association of life insurance and financial services companies. Meanwhile, total fixed immediate annuity premiums sold in 2007 hit $6.8 billion, up 33 percent versus 2002. “One of the prime strategies today is to put a portion of assets in a fixed immediate annuity,” says LIMRA analyst Dan Beatrice. “This enables retirees to ...

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