There’s no way to tell just by looking at someone whether they own an annuity. They could look like
coworkers, neighbors and friends as annuity ownership spans almost every economic class, age
group and educational background. However, there are some interesting facts and figures that help
paint a more detailed picture of the annuity landscape.
In a nutshell, an annuity is a contract between you and an insurance company where you contribute
money up front and then receive payments over a period of time. Total annuity sales spiked 14
percent in 2018 to $232.1 billion from the previous year, according to LIMRA Secure Retirement
Institute. Of that total, variable annuity sales accounted for $100 billion while total fixed annuity sales
comprised more than $132 billion.