Indexed annuity sales projected to plummet 30% because of DOL fiduciary rule
August 10, 2016 by Greg Iacurci
Fixed indexed annuity sales are projected to decline 30% to 35% next year due to a new Labor Department rule raising investment advice in retirement accounts, according to Limra, signaling the disruptive power the regulation will have on insurance companies and product distributors.
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“More than half of the salespeople that offer these products are independent agents affiliated with a marketing organization,” Ms. Moore said. “There just isn’t clear guidance on how these individuals will be able to continue selling without an insurance company that is willing to serve as a financial institution.”
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