Sales of deferred income annuities topped $1 billion in 2012, according to a report from industry group LIMRA. In the fourth quarter specifically, sales for deferred income annuities reached $390 million, nearly 150% higher than the first quarter, LIMRA says. However, they are still a minor portion of the overall market, representing less than 1% of total annuity sales.
“As an emerging market, DIAs have experienced significant growth in 2012,” says Joe Montminy, assistant vice president and director of LIMRA annuity research.
