SRI Forecasts A Slump In Annuity Sales
June 18, 2020 by Jacqueline Sergeant
Annuity sales are in for a rough few months, triggered by low interest rates, market volatility and record high employment, according to forecast by the Secure Retirement Institute.
Overall total annuity sales are expected to drop between eight percent and 15% in 2020, SRI said. But the outlook for 2021 and 2022 is brighter, as equity markets and interest rates slowly rise over the next two years and the number of people age 65 and over expands to comprise 18% of the U.S. population, SRI said.