Annuity Sales Continue to Shatter Records in Q3
Love them or hate them, annuities are on a roll.
While they may not top every advisor’s priority list, the insurance products keep smashing quarterly sales records. US annuity sales hit nearly $120 billion in the third quarter, according to trade group LIMRA. That marked the eighth straight quarter above $100 billion, bringing year-to-date totals to $345 billion, up 4% year over year. It’s the highest total ever recorded in a nine-month period, and reflects a growing shift among advisors who are rethinking the old adage that annuities are sold, not bought.
“We’re at a place where some advisors use them much more than they should, and others who should use them never do,” said David Blanchett, head of retirement research…
