“Best Annuities For 2023”

July 11, 2023 by Marcia Wendorf

2022 saw an increase in the sale of annuities due to volatility in the equities markets and increasing interest rates. According to the Life Insurance Marketing and Research Association, (LIMRA), in 2022 total U.S. annuity sales hit $310.6 billion, a 23% increase over 2021 and 15% higher than the sales record set in 2008.

According to the U.S. Department of Health and Human Services, by the year 2040, 80 million Americans will be over the age of 65. What is driving the increase in annuity sales is investors’ desire to protect their retirement income streams in the face of these headwinds:

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Originally Posted at Forbes on July 6, 2023 by Marcia Wendorf.