Izusek | E+ | Getty Images
Consumers are funneling money into annuities as the stock market tanks and higher interest rates raise payouts for buyers.
Annuity sales in the third quarter of 2022 approached $80 billion, just edging out the $79.4 billion record set in Q2, according to estimates published by Limra, an insurance industry trade group.Consumers are on pace to buy almost $300 billion of annuities in 2022, which would handily beat the $265 billion purchased in 2008, the current annual record, said Todd Giesing, assistant vice president of Limra Annuity Research.As during the 2008 financial crisis, purchasing decisions seem […]
Full Post at www.cnbc.com