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Index Annuity Sales Slip

By Staff Writer

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U.S. index annuity sales fell to $6.4 billion in the third quarter, down 2% from the total for the third quarter of 2006.

Researchers at AnnuitySpecs.com, Pleasant Hill, Iowa, have published those figures in the latest Advantage Index Product Sales & Market Report, which is based on a survey of 57 carriers.

The researchers also surveyed the 32 carriers in the U.S. indexed life insurance market.

Sales of indexed life insurance increased about 55%, to $129 million.

Only 1 of the top 10 indexed life carriers experienced a drop in sales in the third quarter, and the average death benefit was $806,558, according to AnnuitySpecs.com.

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