A registered index-linked annuity (RILA) is a type of indexed annuity that is a security and therefore regulated by the SEC. It is a contract between you and an insurance company where the interest you earn is linked, in part, to the performance of a market index or other benchmark at the end of a set period of time. At the end of that period of time, the insurance company calculates and credits a positive or negative return to your contract value. Notably, RILA returns are typically subject to limits on both potential losses and potential gains. In addition, RILAs typically impose charges, penalties and adjustments for early withdrawals, which can significantly lower the value of your annuity. RILAs may also be referred to as Index-Linked Variable Annuities, Structured Annuities or Buffered Annuities.
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