02.24.20
Repeal of DOL Rule Boosting Fixed Indexed Annuity Sales, Report Says
by: Raymond Fazzi
The repeal of the U.S. Department of Labor's conflict of interest rules and the new SECURE Act are helping propel sales of fixed-indexed annuities (FIAs), according to a report by Cerulli Associates. FIA sales made up 57 percent of annuity sales in 2019, climbing to a new all-time high of nearly $74 million, according to Cerulli, which predicted that FIA sales will overtake variable annuity sales by 2023.
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