Have annuity sales bottomed out?
November 29, 2017 by Greg Iacurci
Annuity sales have fallen to their lowest point in well over a decade, but industry experts believe a turnaround is at hand.
Sales among all annuity products in the third quarter were $46.8 billion, the first time since 2002 that quarterly sales have dipped below $50 billion, according to the Limra Secure Retirement Institute, which tracks insurance products.
Limra and other industry experts attribute the recent dip primarily to the Department of Labor fiduciary rule, which places stricter standards on the sale of investment products such as annuities to retirement investors.
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