Variable Annuity Sales Continue to Soar, Despite Concerns

Stockbroker Law - Monday, August 01, 2011
Variable Annuity Sales Continue to Soar, Despite Concerns

Sales of variable annuities to senior citizens and tens of thousands of Americans continue, despite concerns regarding their suitability and appropriateness.  The top insurance company sales of variable annuity products include Prudential Annuities, MetLife, Jackson National Life, Lincoln Financial Group, AXA Equitable, AIG Companies, Riversource Life Insurance, Nationwide Financial, ING, Aegeon USA, Sun Life Financial, Alling Life of North America, Pacific Life, and John Hancock.

 

The Financial Industry Regulatory Authority (FINRA), a self-regulatory agency which oversees various aspects of the sales of annuity products, has cautioned that these products should only be sold to investors who clearly meet the suitability guidelines in order to assure that these products are in line with the customers’ financial objectives.

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