Fixed indexed annuity (FIA) sales were $20 billion in the second quarter, 14% higher than prior year results.
The kind of insurance that protects against the risk of running out of money in old age is still greatly underutilized.
A woman who spent years complaining a financial advisor had misled her into spending her retirement savings to buy an annuity will receive a refund.
Rowena Chan brings 30 years of experience and a degree in sociology to her role as president of Sun Life Financial Distributors