Sales of annuities in the second quarter hit their highest level in three years. 

According to the Insured Retirement Institute, annuity sales in the period amounted to $59.9 billion, based on data reported by Beacon Research and Morningstar Inc. That’s a 6.8 percent increase from the first quarter’s $56.1 billion and an even higher 9.9 percent increase from the second quarter of 2013, when sales totaled $54.5 billion. 

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