A Perfect Annuity Sales Storm
The current economic environment has created a perfect storm for record-level growth in the annuity market. As interest rates continue to be unpredictable and the potential of a recession looms, retirement investors are looking for safe, short-term investments. On iPipeline’s AFFIRM® platform, we have seen record annuity sales so far in 2023 -- continuing the trends we saw in 2022 -- and LIMRA forecasts that annuity sales will continue to grow by at least 15% in 2023*. In other words, annuities are kind of a big deal right now. But will this trend continue? And what opportunities does this market present?
In this issue of the Buzz, we gain insight into the annuity market from Pete Buxton of Highland Capital Brokerage, and we hear from Bill Atlee on iPipeline's plan to bring our annuity platform to the BGA community - all to help better equip you to meet customer expectations.