- Total U.S. annuity sales reached a record $123.9 billion in the second quarter of 2026, up 4% year over year.
- It was the 11th straight quarter above $100 billion. First-half sales hit $231.3 billion, also a record.
- RILAs and variable annuities drove the gain. RILA sales set a quarterly record at $23.3 billion, up 22% from a year earlier.
- The safety products cooled. Fixed-rate deferred sales fell 2% year over year and fixed indexed annuity sales fell 7%, even with rates near multi-decade highs.
- Immediate annuity sales set their own record at $4.0 billion, up 12%.
U.S. annuity sales reached $123.9 billion in the second quarter of 2026, an all-time quarterly record and a 4% increase over the same period last year. The figures come from LIMRA’s U.S. Individual Annuity Sales Survey, released July 28, 2026, which represents roughly 90% of the total market.
It was the eleventh consecutive quarter in which the industry sold more than $100 billion of annuities. First-half sales totaled $231.3 billion, 2% ahead of the first six months of 2025 and a record for any half-year period.
The headline number hides a rotation happening underneath it. Products that offer market participation grew sharply, while the guaranteed-rate products that powered the last three years of growth lost ground compared with 2025.
What Sold in the Second Quarter
| Product | Q2 2026 sales | vs. Q2 2025 | vs. Q1 2026 |
|---|---|---|---|
| Fixed-rate deferred (MYGA) | $44.7B | -2% | +26% |
| Fixed indexed (FIA) | $30.7B | -7% | +14% |
| Registered index-linked (RILA) | $23.3B | +22% | +11% |
| Traditional variable | $17.9B | +25% | +4% |
| Single premium immediate (SPIA) | $4.0B | +12% | +9% |
| Deferred income (DIA) | $1.3B | +5% | +32% |
| Total market | $123.9B | +4% |
The product lines above do not add up to the total. LIMRA’s market-wide figure includes smaller categories that the association does not break out separately.
Why the Guaranteed Products Slipped
Fixed-rate deferred annuities, better known as MYGAs, remain the largest single category at $44.7 billion. But that is 2% below the second quarter of 2025, and first-half MYGA sales of $80.3 billion are down 7% from a year ago.
Fixed indexed annuities told a similar story, with $30.7 billion in the quarter and a 7% year-over-year decline. Both products rebounded strongly from a slow first quarter, up 26% and 14% respectively, so the weakness is relative to an unusually strong 2025 rather than an outright collapse in demand.
Equity markets reaching new highs in June is the most direct explanation for where the money went instead. When stocks are climbing, buffered and market-linked products look more attractive next to a flat guaranteed rate.
“A combination of global tensions, market volatility and rising interest rates drove demand that lifted all major products,” said Bryan Hodgens, senior vice president and head of LIMRA Research.
RILAs Keep Taking Share
Registered index-linked annuities set another quarterly record at $23.3 billion, up 22% from the second quarter of 2025. Year-to-date RILA sales of $44.4 billion are 21% ahead of the first half of last year.
RILAs sit between a fixed indexed annuity and a variable annuity. They offer more index upside than an FIA in exchange for accepting a defined slice of downside risk, usually through a buffer that absorbs the first 10% or 20% of a loss.
“Investors were drawn to RILAs’ blend of upside participation and downside protection,” said Keith Golembiewski, head of LIMRA annuity research. Carriers have continued adding RILA products, which gives the category more distribution than it had even two years ago.
Traditional variable annuities grew even faster in percentage terms, rising 25% year over year to $17.9 billion on the strength of the equity market.
Income Annuities Set a Quiet Record
Single premium immediate annuities reached $4.0 billion, a record quarter and a 12% increase over last year. Deferred income annuities added $1.3 billion, up 32% from the first quarter.
These are small categories next to the $44.7 billion MYGA market, but they are the products that actually convert savings into a paycheck. Their growth tracks the demographic story LIMRA has pointed to repeatedly, with more than 4 million Americans turning 65 each year and most of them without a pension.
What This Means for Annuity Buyers
A record sales quarter is an industry milestone, not a buy signal. What matters more for an individual saver is the detail underneath it: guaranteed-rate products are selling slightly less than last year while payout rates have stayed near multi-decade highs.
For anyone comparing a MYGA against a CD or a Treasury, softer demand does not change the math on the contract in front of them. It does suggest the competitive pressure that pushed carriers to post aggressive rates through 2024 and 2025 has eased somewhat. You can see where rates stand today on our best MYGA rates page.
Buyers looking at a RILA should understand what the category’s popularity is actually buying them. A buffer is not principal protection, and the products carry more moving parts than a fixed annuity, including caps and participation rates that the carrier can reset.
LIMRA continues to forecast that full-year 2026 annuity sales will exceed $450 billion. For context, the industry finished 2025 at $464.1 billion, its fourth consecutive record year.
Frequently Asked Questions
How much did annuity sales total in the second quarter of 2026?
Total U.S. annuity sales were $123.9 billion in the second quarter of 2026, according to LIMRA. That is an all-time quarterly record, a 4% increase over the second quarter of 2025, and the eleventh consecutive quarter above $100 billion.
Which annuity product grew the fastest in Q2 2026?
Traditional variable annuities posted the largest percentage gain at 25% year over year, reaching $17.9 billion. Registered index-linked annuities grew 22% to a record $23.3 billion, which was the larger increase in dollar terms.
Why did fixed annuity sales fall if interest rates are still high?
Fixed-rate deferred sales fell 2% and fixed indexed annuity sales fell 7% against a very strong second quarter of 2025, so the decline is relative rather than absolute. Equity markets hit new highs in June 2026, which drew buyer interest toward products with market participation such as RILAs and variable annuities.
Sources
- LIMRA U.S. Individual Annuity Sales Survey, second quarter 2026 results, released July 28, 2026.
- InsuranceNewsNet: Annuity sales set new quarterly record with $123.9B in Q2, July 28, 2026.
- PLANADVISER: Annuities Sales Reach New Heights in Q2 2026, per LIMRA, August 5, 2026.
