This increased awareness and knowledge has likely heightened

Advisor Hits To Income Annuity Database Up 15

moncler sale The numbers come from analysis of figures provided by CANNEX USA, a database that annuity advisors use to obtain payout and related policy information moncler outlet uk for clients who are interested in buying a single premium immediate annuity (SPIA). moncler sale

cheap moncler In 2013, CANNEX recorded more than a half million (559,800) These are advisor inquiries or hits to the firm online database. cheap moncler

buy moncler jackets The numbers are up by roughly 15.3 percent from the year before and up by 35.7 percent from 2011, the year when CANNEX first started publishing survey activity. CANNEX includes data on products moncler outlet jackets of multiple insurers in its database but does not sell SPIA policies. buy moncler jackets

cheap moncler outlet The figures seem to correlate with the substantial increase in income annuity sales that the annuity industry saw last year. In the first nine months, those sales jumped nearly 11 percent and set a new record totaling over $7.5 billion, according to Beacon moncler outlet store Research. cheap moncler outlet

More interest in later income start dates

cheap moncler sale Another increase that the CANNEX report picked up is a whopping 211 percent jump cheap moncler jackets in inquiries involving SPIAs with an income start date beginning sometime after the first 365 days of policy ownership. cheap moncler sale

moncler sale outlet In 2013, the CANNEX system recorded nearly 60,300 such inquiries, representing nearly 10.8 percent of all surveys moncler outlet online for the year. That is more than three times the cheap moncler jackets sale number of such inquires in the two previous years. In 2012, the after 365 days tally came to just 19,411 hits and represented only 4.9 percent of total surveys for the year. In 2011, the total came to 20,300 hits and represented 4 percent of all surveys that year. moncler sale outlet

moncler outlet online The huge jump in 2013 in the after 365 days segment likely correlates with the growth in deferred income annuity (DIA) cheap moncler outlet products and sales, Gary Baker, CANNEX president, said in an interview. moncler outlet online

monlcer down jackets DIAs are relative newcomers to the fixed annuity market; their most distinguishing feature is that they don start the payout phase until several years after policy purchase. Sales for the products were on a tear last year, increasing more than three fold in moncler outlet third quarter alone, compared to the same period in 2012, according to figures provided by Beacon. monlcer down jackets

moncler outlet CANNEX currently combines DIA data with SPIA data, because DIAs are a form of SPIA. However, so many new DIAs have come out that inquiries concerning them are rising, Baker said. moncler outlet

moncler outlet sale If moncler jackets outlet the interest continues, the day may come when CANNEX will provide separate numbers on DIA and SPIA inquiries, he said. That may help the industry see which age groups advisors are targeting for which type of income product. moncler outlet sale

what I hear from the annuity carriers, the DIAs are attracting younger buyers, in their mid to late 50s, said Baker.

cheap moncler jackets By comparison, the traditional SPIA products are attracting older buyers, according to age data provided by CANNEX. Over the last three years, most inquiries to the company database were for people aged 60 to 75, with the top age segment being people ages 60 moncler sale outlet to 65. As the table shows, this age group has represented the largest segment of inquiries 24 percent for all three cheap moncler years. cheap moncler jackets

Regarding the increase in total hits to the database, Baker pointed out that a couple of large accounts entered the CANNEX system last year. That probably accounted for some of the uptick, he said.

Another factor, he said, is that financial planners are increasingly using SPIAs in financial planning. in advisor accreditation programs, SPIAs have become a systemic and accepted part of the formal training and education programs that deal with creating portfolios for retirement income. This increased awareness and knowledge has likely heightened advisor interest checking out payout products for clients.

moncler mens jackets Yet another factor has to do with marketplace changes. Some carriers are bringing out Cheap Moncler Jackets new types of products to moncler jacket sale meet retirement income needs, Baker said. Some are looking more seriously at indexed annuities, for example, and at new types of guarantees. moncler mens jackets

cheap moncler coats it a variable annuity company, say, offering SPIAs helps diversify what the company has to offer, and moncler sale also balances out what they have on the variable side, he said. Advisors pick up on the availability and start searching moncler factory outlet out the SPIAs on the database. cheap moncler coats

Note: The CANNEX report only shows SPIA surveys paid for by distribution companies and run by advisors or the annuity desk of a distributor, provided the surveys are associated with a potential sale. Searches run by marketers, researchers and the curious are excluded.

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