Sales of annuities are down and LIMRA thinks it's due to the DOL fiduciary rule. Here's why.
The implementation of the DOL fiduciary rule's impartial conduct standards last June is clearly weighing on the annuity market, according to the LIMRA Secure Retirement Institute.
Total sales of variable annuities in 2017 dropped below the $100 billion mark for the first time in 20 years, according to LIMRA. Variable annuity sales were $95.6 billion in 2017. In 2011 they topped $158 billion.
Sales for the entire annuity market were $203.5 billion last year, an 8 percent decrease from 2016. Total sales topped $265 billion in 2008.
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