‘Ugly times’ are pushing record annuity sales. Here’s what you need to know before you buy

October 31, 2022 by Greg Iacurci

Consumers are funneling money into annuities as the stock market tanks and higher interest rates raise payouts for buyers.

Annuity sales in the third quarter of 2022 approached $80 billion, just edging out the $79.4 billion record set in Q2, according to estimates published by Limra, an insurance industry trade group.

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Wink’s Note: This article left me screaming, “but U.S. Treasury Bonds cannot guarantee an income for the purchaser’s lifetime!” This is a typical quote for the folks that get interview for CNBC.
Great job on this article, Gregory Iacurci. I appreciate you keeping it balanced. -sjm

Originally Posted at CNBC on October 26, 2022 by Greg Iacurci.