Wink, Inc. Releases Second Quarter, 2015 Fixed Deferred Annuity Sales Results!
Pleasant Hill, Iowa. September 15th, 2015– Wink’s Sales & Market Report is the insurance industry’s #1 resource for indexed annuity and indexed life sales data since 1997. The report is unique in that it provides sales by product, company, crediting method, index, surrender charge period, and most-recently expansion of product-specific sales by distribution.
Now, the fabulous details that Wink’s subscribers love receiving about indexed insurance products is also available on the traditional fixed annuity and multi-year guaranteed annuity (MYGA) product lines! Wink released 2nd Quarter, 2015 sales results for fixed and MYGA annuity products, as well as the indexed products that Wink has been reporting on for nearly 20 years.
Thirty-eight fixed and multi-guaranteed annuity carriers participated in the 72nd edition of Wink’s Sales & Market Report. Total second quarter traditional fixed annuity sales were $2.4 billion and MYGA sales were $4.2 billion. Given that this is the first quarter that Wink has collected data on sales of traditional fixed and multi-year guaranteed annuities, comparisons will be available in future quarters. “We are excited to see a greater level of participation with future quarters, as a result of our relationship-building with annuity companies”, commented Sheryl J. Moore, President and CEO of both Moore Market Intelligence and Wink, Inc.
Noteworthy highlights for the first quarter include American General (AIG) leading traditional fixed sales with over 14% market share. Forethought life is the #1 MYGA carrier for sales with over 22% market share. The top traditional fixed annuity in overall sales is Jackson National Life MAX One XL. Forethought Life SecureFore 5 Fixed Annuity led overall MYGA sales for the second quarter. The average fixed annuity premium was $71,543; an increase of over 21% as compared to the previous quarter and the average MYGA premium was $61,872.
Guaranteed Lifetime Withdrawal Benefit (GLWB) utilization was greater than anticipated for the second quarter, with 89.1% of eligible contracts electing the benefit. In contrast, indexed annuity GLWB elections are more than 30% lower than Fixed/MYG GLWB elections. In response to the GLWB data, Moore had this to say, “Not surprising given that fixed annuity rates are currently averaging 2.78%. The guaranteed lifetime income story is a good one when fixed annuities and MYGAs aren’t marketable from a rate perspective.”
Additional product lines will be added to Wink’s Sales & Market Report, via their sales survey in upcoming quarters. It is anticipated that whole life and term sales will be reported in a little over a year, while universal life sales will follow thereafter. Sales of variable products may potentially follow, based on consumer demand at that time. “While I am eager for Wink to be the pinnacle of product intelligence for the life insurance and annuity markets, I am not willing to compromise our integrity in those efforts,” said Moore. “My companies are recognized for their accuracy, timeliness, and service. I’d rather ensure that we continue that reputation in reporting the few product lines that we currently support, before expanding into new markets.”
For more information go to www.LookToWink.com
The staff of Moore Market Intelligence has combined experience of nearly three decades working with indexed insurance products. The firm provides services in speaking, research, training, product development, and marketing of indexed annuities and indexed life insurance. Their knowledge in product filing research and policy forms analysis, coupled with their unmatched resources in insurance distribution, give them the expertise to provide competitive intelligence that allows carriers to stay ahead of their competition.
Sheryl J. Moore is president and CEO of this specialized third-party market research firm and the guiding force behind the industry’s most comprehensive indexed life and indexed annuity due diligence tools, AnnuitySpecs and LifeSpecs distributed by Wink, Inc. Ms. Moore previously worked as market research analyst for top carriers in the indexed life and annuity industries. Her views on the direction on the indexed market are frequently heard in seminars and quoted by industry trade journals.
Ms. Moore is the author of the quarterly Wink’s Sales & Market Report. Serving as the insurance industry’s #1 resource of indexed insurance product sales since 1997, this report provides sales by product, company, crediting method, index, distribution, surrender charge period, and more. Wink’s Sales & Market Report expanded to cover all fixed deferred annuity products in 2015.
Wink, Inc. is the company that distributes resources such as this sales report, along with the competitive intelligence tools AnnuitySpecs and LifeSpecs at www.LookToWink.com.
September 15th, 2015 — Pleasant Hill, IA — (855) ASK-WINK