ANNUITY HISTORY & FACTS

1100 – 1700 B. C. Archeologists reveal that the legal codes of Egypt provide evidence that an annuity was purchased by a Prince ruling in Sint, in the Middle Empire.

The First Fixed Annuity

  • 1759- A Pennsylvania company offers the first annuity in America to Presbyterian ministers and their families.

Fixed Annuities Now

The First Fixed Indexed Annuity

  • February 15, 1995—Keyport (now Sun Life) sold the Key Index Annuity for a premium of $21,000. Over a 5-year period the annuity grew to a value of $51,779. The average CD at the time would have returned $27,554 over the same five-year period, had the client continually renewed it.

Fixed Indexed Annuities

  • Now At the close of 2013, Fixed Indexed Annuities sales were $39.3 billion. (Investment News by: Matt Sirinides Feb 25, 2014)

The First Variable Annuity

  • 1952- TIAA-CREF sold the first Variable Annuity for use in college and university qualified retirement plans.

Variable Annuities

  • Now At the close of 2012, Variable Annuity sales were $145.6 billion. (Source: U.S. Individual Annuities Sales Survey, LIMRA)

Annuities Risk Spectrum

To learn more about annuities, please read our Annuities 101 article

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Investment advisory services offered through Virtue Capital Management, LLC (VCM), a registered investment advisor. VCM and RS Financial Group, LLC are independent of each other. Fiduciary duty extends solely to investment advisory advice and does not extend to other activities such as insurance product sales, including annuities, life insurance, and long term care insurance or broker dealer services. Advisory clients are charged a monthly fee for assets under management while insurance products pay a commission, which may result in a conflict of interest regarding compensation. IAR is also a licensed insurance agent. In this capacity, IAR may offer fixed life insurance products and receive normal and customary commissions. The client is under no obligation to purchase products through IAR on a commissionable basis. In addition, IAR may receive other compensation such as fixed or variable life trails. The potential for receipt of commissions and other compensation when IAR acts as an insurance agent may give IAR an incentive to recommend insurance products based on the compensation received.Any guarantees mentioned are backed by the financial strength and claims paying ability of the issuing insurance company and may be subject to caps, restrictions, fees and surrender charges as described in the annuity contract. Index or fixed annuities are not designed for short term investments.