Indexed annuity sales on pace for record year, as variable annuities take another big hit
November 22, 2016 by Greg Iacurci
Fixed indexed annuity sales are on pace for a record year in 2016 as low interest rates and product features drive their popularity among broker-dealers, and despite headwinds from a new Labor Department investment-advice regulation that will make sales of such products more difficult.
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Independent agents are the primary distribution channel for indexed annuities, representing 58% of sales in the second quarter this year, according to Wink Inc., a tracker of the annuity products. By comparison, IBDs represented 16% of the total.