Variable annuity sales reached record levels during the first nine months of 1993, reflecting the growing popularity of tax-deferred products.

Net sales of variable annuities, which are insurance contracts that invest in underlying pools of securities, hit $21.75 billion through Sept. 30, according to estimates released last week by Lipper Variable Insurance Products Performance Analysis Services.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.