Sales of deferred income annuities surged 150% in Q1

08/28/2013 | Insurance Networking News ·

Consumers concerned about outliving their retirement savings are increasingly buying deferred income annuities. Sales have risen for five quarters in a row. For this year's first quarter, sales of deferred income annuities were 150% above the figure for the same quarter a year earlier. In 2012, sales rose to almost $1 billion. "As more companies begin to offer DIA products and as they expand into new distribution channels, DIAs are becoming a viable option for consumers and financial advisors looking for guaranteed retirement income to insure against longevity risk," said Cathy Weatherford, president and CEO of the Insured Retirement Institute.

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