The Insured Retirement Institute said third-quarter annuity sales rose to $57 billion in the third quarter, up 5% from the year-ago period. Sales year-to-date were $175.4 billion, up from $163.1 billion in 2010.

Demand for guaranteed lifetime retirement income in the face of extreme market volatility has driven the uptick in annuity sales, said IRI President and CEO Cathy Weatherford. Annuities are valuable tools for financial advisors as they “help address the adversity clients are feeling toward volatility,” she said.

Register or login for access to this item and much more

All Bank Investment Consultant content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access