Thursday, 15 July 2021 17:32

Why Annuities are the Product of the Moment

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(New York)

They do not get a great deal of attention, but annuities are having a real moment this year. Total annuities sales jumped 4% in Q1 versus the prior year. That is a pretty nice job for a product many would not think of as “fresh”. Variable annuities drove the gains, with a 7.5% quarterly jump.

FINSUM: Annuities have several tailwinds right now. The giant mass of baby Boomers entering retirement is one, Generation X liking annuities more than older generations is another, as are increasingly accommodative regulatory policies for annuities, such as their inclusion in retirement plans.

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