Lakewood Insurance Agent discusses Changing Times for Annuities

Lakewood Insurance Agent Sam Morris continues the discussion on the Uncertainty and Changing Times for Individual Annuities.

Here are some recent statistics about Annuities:

• Fixed Annuity Sales dropped 20% in second quarter 2009 from the previous quarter but they were 10% higher than in second quarter 2008.
• Fixed Annuity sales reached an estimated $27.5 billion in second quarter 2009.
• The second quarter 2009 study covers sales of 53 insurance companies in the U.S.  These companies represent an estimated 86% of the fixed annuity market.
• To date 2009 the total market sales were an estimated $62.6 billion, 39% above first half 2008.
• The estimated second quarter 2009 sales were, book value $14 billion, indexed $8.2 billion, market value adjusted $3.5 billion, and fixed income was at $2.2 billion.
• Compared to previous quarter indexed annuity sales were up 16%, and income annuity sales were up 12%.
• In contrast second quarter 2009 market value adjusted sales declined 47% and book value annuities fell 27%.
• Compared to second quarter 2008: Indexed annuity sales rose 20% in second quarter 2009, book value and fixed income annuities rose 10% and 2% respectively while market value adjusted sales fell 5%.
• When compared to first half 2008, market value adjusted sales were up 68% in the first half of 2009.  Indexed annuities were up 22% and book value annuities were up 48%.
• Also fixed income sales had a modest increase of 4%.  Indexed annuities took a 30% share of sales in second quarter 2009, this reversed a five quarter decline.  These sales are still below 2007 levels.

Lakewood Insurance Agent Sam Morris has been providing Annuity products, along with residential property coverage, auto insurance coverage, disability income coverage, and general liability coverage to clients in Garland and East Dallas since 2000. Sam is a veteran of the armed services and makes it his personal mission to make sure that you have the right coverage… not too much nor too little. Please call 972-240-8075 today for a personal consultation with Sam.