Annuity sales through banks dropped to their lowest level since 1999, according to Bank Insurance & Securities Research Associates, a bank brokerage industry group.
In 2012, banks sold $29.6 billion in annuities, down 20% from 2011. Fixed annuities fell 33% to $11.9 billion, while variable annuities slipped 10% to $17.7 billion, according to the data.
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