Sales of "registered indexed linked annuity" contracts, or RILA contracts, increased 59% between the first quarter of 2018 and the latest quarter, to $3.5 billion.
Annuity Definitions
Analysts at the LIMRA institute have included those figures in their latest report on individual annuity sales. The institute analysts base their figures on results from an issuer survey. The analysts estimate that their survey participants account for about 94% of U.S. individual annuity sales.
A book value annuity is an arrangement that pays the holder a guaranteed crediting rate, even if the holder takes funds out early.
An indexed annuity is an annuity with a crediting rate that's linked to the performance of one or more investment indexes.
More Annuity Sales Results
Here's what happened to sales of some other types of annuities included in the survey data:
- Indexed annuities classified as fixed contracts: $18 billion (up 24%)
- Variable annuities: $19 billion (down 14%)
- Market-value-adjusted fixed annuities: $5 billion (up 52%)
- Fixed immediate annuities: $2.8 billion (up 33%)
- Structured settlements: $1.5 billion (up 7%)
— Read Book Value Annuity Sales Rise 94%, on ThinkAdvisor.
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