Annuity sales boomed but also evolved in the second quarter

August 1, 2023 by Nathan Place

The Great Annuity Boom continued last quarter, but a close look at the details shows more change than meets the eye.

From April to June 2023, total sales of annuities — insurance products that provide a pension-like retirement income — reached $88.6 billion, a 12% jump from the same quarter last year, according to LIMRA, an industry-funded research group.

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Originally Posted at Financial Planning on July 28, 2023 by Nathan Place.