Sales of fixed annuities dropped to $21.9 billion in the third quarter of 2009 according to new research released by Evanston, Ill.-based Beacon Research. The tally represents a 21% decline compared to the same period a year earlier.
However, Beacon’s Fixed Annuity Premium Study revealed that on a year-to-date basis, total market sales were an estimated $84.5 billion, 16% above the first three quarters of 2008.
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