Income annuity sales rise amid retirement crunch

Fixed annuity sales in the third quarter were buoyed by the strongest sales quarter ever for income annuities and steady indexed annuity sales, according to Beacon Research. And, based on data reported by Morningstar Inc. and Beacon, income annuity sales increased to nearly $2.4 billion in the third quarter, up 3.8% from about $2.3 billion in the second quarter and up 6.7% year-over-year from $2.2 billion.

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