Single-premium pension buy-outs broke $6 billion in the third quarter of 2018, says a recent report, less than in the second quarter but still the second highest third quarter sales figure in the last 15 years.
The LIMRA Secure Retirement Institute reports that in the third quarter of 2018, pension buy-outs were greater than $6.2 billion. That is $2 billion less than in the second quarter, but still was only the second time pension buy-out sales exceeded $6 billion in the third quarter. And it was the 14th consecutive quarter with pension buy-out sales amounting to more than $1 billion, LIMRA says.
Buy-out products’ assets amounted to more than $126 billion in the third quarter of 2018, LIMRA reports, which is 21% higher than during the same time in 2017.
So far for 2018, LIMRA says, pension buy-out sales have totaled $15.9 billion.
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