Sales of annuities of every flavor dropped in the third quarter of 2012, except for a record-setting boom in indexed annuities, according to LIMRA
By Maria Wood|November 19, 2012 at 12:06 PM
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Sales of annuities tumbled in the third quarter compared to a year ago, reports LIMRA. Nearly all product types saw declining sales, except for indexed annuities, which LIMRA predicts will have a record-setting year in 2012.
Overall, annuity sales fell 10 percent from the third quarter of 2011, dropping from $60.1 billion in Q3 2011 to $54.3 billion. Data from LIMRA represents 95 percent of the market with 57 companies reporting. For the first nine months of 2012, annuity sales totaled $166.1 billion, an 8 percent drop from the same period a year ago when sales hit $181.5 billion.
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