Fixed and variable annuities sold in through banks each changed course, the former rising and the latter falling in January, according to the Kehrer-Jackson Monthly Bank Annuity Sales Survey. When added together, however, overall sales of both kinds of annuities were slightly lower than they had been in December.

"Total annuity sales have been pretty stable for the past six months, despite the shift in popularity of fixed versus variable products," says Janet Cappelletti, associate research director at Kehrer-Limra. "Total dollars invested in annuities at banks has remained just below $3 billion since last June, but the fixed versus variable product mix has seesawed over the course of the last year and now the two are almost even."

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