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A Season of Change: VA Sales Fall as Insurers Cut Back on Their Products

Steven D. McDonnell

The year 2012 was a time when insurers made reductions to their variable annuity products: these moves included the trimming of guarantees, fee increases, closures of contracts and riders, installation of tighter investment restrictions, cuts to commissions, and even complete departures from the business. Such activity served to depress industry sales, even though demand for VAs remains strong and the financial markets performed pretty well...

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