Investors pour money into higher yielding fixed annuities

Losses on stocks and bonds, along with higher interest rates, have turned investors to fixed-rate annuities, a safe haven that offers decent returns for the first time in years.

Sales of various types of annuities in the second quarter are expected to hit $74 billion, setting a record, according to life insurance industry-funded research firm Limra. That would be more than $5 billion higher than the previous record, which occurred in the volatile fourth quarter of 2008, at the height of the financial crisis.


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