Annuity sales hit record levels as boomers look for safety and lifetime income

May 30, 2019 by Tim Grant

Baby boomers craving financial certainty and shunning stock market risk were practically standing in line to buy annuities early this year, according to an insurance research organization which reported sales reached the highest level in a decade.

“Annuity sales in the first quarter are definitely a reflection of a flight to safety,” said Teodor Panaitisor, a research analyst at Windsor, Conn.-based Limra Secure Retirement Institute.

“Looking at the numbers, we can assume that individuals are looking for protection during periods of volatile markets.”

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Originally Posted at Pittsburgh Gazette on May 29, 2019 by Tim Grant.