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Annuity product activity up in December

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Annuity product activity for December increased 13 percent, according to the Analytic Reporting for Annuities released by the Depository Trust & Clearing Corporation Insurance & Retirement Services.

The DTCC released its full-year and December information, showing that inflows processed by the corporation totaled more than $90 billion.

In addition, the DTCC showed that net flows in 2011 totaled almost $24 billion and inflows for all annuity types processed in December increased to more than $860 million.

As these numbers indicate, annuities are an increasingly popular type of investment. Speaking to LifeHealthPro, Richard Tucker, an investment expert said that other types of investments have started to look less appealing to consumers than fixed income annuities.

“Interest rates have come down, rates on bank CDs have come down, and the equity markets have experienced high volatility,” Tucker said.

With new findings revealing only 22 percent of Americans reporting confidence in reaching their retirement goals, acquiring a life insurance policy and annuities to prepare for the future might be a more attractive option for seniors.

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