Registered index-linked annuity (Rilas) have emerged as the product of choice for retirement investors during the pandemic as fixed index annuities (FIAs) continued to suffer the impact of low interest rates.
Annuity sales in the fourth quarter of 2020 have reached levels recorded before the Covid-19 pandemic despite less than favourable economic conditions, according to the Secure Retirement Institute (SRI). Registered index-linked annuity Rilas sales emerged as the breakout star of 2020 while FIAs were a casualty of the historically low interest rate environment. Rila sales totalled US$8.3 billion in the fourth quarter, a 68% jump from Q4 19 and 33% higher than the US$6.3 billion recorded in Q3 2
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