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|Source:||Source Media, Inc.|
Demand for guaranteed lifetime retirement income in the face of extreme market volatility has driven the uptick in annuity sales, said IRI President and CEO
Sales of variable annuities posted the greatest gain from year-ago levels, jumping to
Third-quarter sales of fixed annuities, however, dropped to
Fixed annuities are “going to have ebbs in growth,” particularly during periods of record-low interest rates as the markets are experiencing today,” Weatherford said.
While sales of annuities were up overall from a year ago, they were off 6% from the previous quarter. Third-quarter sales of variable annuities fell 2% from