Total US annuity sales were $104.6bn in the first quarter of 2026, according to preliminary results from LIMRA’s U.S. Individual Annuity Sales Survey, which represents 87% of the total US annuity market.
“Although first quarter sales were slightly below prior year’s results, the threshold for annuity sales appears to be stabilized above $100bn, highlighting the continued interest in principal protection and guaranteed income,” said Bryan Hodgens, Senior Vice President and Head of LIMRA Research.
“At a time when consumers registered significant economic concerns and market volatility was at its highest in a year, demand for registered indexed-linked and income annuities grew as investors sought greater protected growth opportunity and the ability to lock in guaranteed retirement income.”
Registered index-linked annuity (RILA) sales jumped 21% year over year to $21.2bn in the first quarter of 2026. This is the second highest sales quarter for RILAs and marks the 30th quarter of year-over-year growth.
“This product has tremendous tailwinds. As new RILA products and riders continue to be introduced and more carriers and distribution adopt RILAs into their portfolios, the market capacity for these products broadens,” said Keith Golembiewski, Assistant Vice President and Head of LIMRA Annuity Research.
“As more pre-retirees need to create future guaranteed income in retirement, RILAs are an attractive solution. LIMRA is forecasting 2026 RILA sales to exceed the record-high sales set in 2025.”
Despite the heightened market volatility, traditional variable annuity sales increased year over year for the third consecutive quarter. In the first quarter of 2026, traditional VA sales were up 9% to $16.1bn, compared with first quarter 2025 results.
Total fixed-rate deferred annuity (FRD) sales fell 16% to $34bn in the first quarter as clients focused on more upside-based products to take advantage of the robust equity market, such as RILAs and fixed indexed annuities. Despite the decline, FRD annuities represented a third of the total annuity market in the first quarter.
Fixed indexed annuity (FIA) sales slipped 4% year over year to $26.6bn in the first quarter of 2026.
“LIMRA attributes the slight decline in FIA sales to the growing interest in RILA products by annuity carriers and distribution,” said Golembiewski.
“Although both products offer a level of principal protection and growth potential, RILAs offer higher upside growth opportunity in a seemingly unstoppable equity market environment.”
Steady interest rates in the first quarter buoyed income annuity sales. Single premium immediate annuity (SPIA) sales jumped 22% to $3.7bn in the first quarter of 2026. Deferred income annuity (DIA) sales were $1bn in the first quarter, up 6% year over year.
