10.01.24

Indexing the Market: Driving Life, Annuity Sales

by: John Hilton

Indexed annuity sales totaled $59.3 billion through the first half of 2024. By comparison, $55.5 billion worth of indexed annuities were sold for the entire year in 2020. Life insurance is a little different story. Whole life remains the dominant product, although in a sales decline, while term life remains a source of quick, direct-to-consumer sales. But Sheryl Moore, CEO of Wink Inc. and Moore Market Intelligence, is projecting record sales of indexed life insurance. The indexed market is not lacking products, as insurers engineer new indexes and new products to meet the need. On the annuity side, insurers are realizing that structured annuities — also known as registered indexed-linked annuities — are not just a passing fad. Many companies that were big in the variable annuity space have pivoted to structured annuities. During the first half of 2024, LIMRA lists 19 sellers of indexed-linked annuities, accounting for nearly $31 billion in half-year sales.

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