Total annuity sales slumped 10 percent in first halfof 2017, dropping to levels not seen since 2001, according to LIMRASecure Retirement Institute’s second quarter retail annuity salessurvey.
For all annuities, sales were $105.8 billion. For sixconsecutive quarters, sales of fixed annuities have outpacedvariable annuities, a run unprecedented in the past 25 years.
Sales of variable annuities were down 8 percent in the firsthalf of the year, to $49.1 billion. Fixed annuities, less complexand typically less expensive guaranteed income products thanvariable annuities, also suffered a significant decline of 11percent in the first half of the year.
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