Record $123.9 billion quarter: what the Q2 2026 annuity sales numbers say — and don't say — for shoppers

U.S. annuity sales set a new quarterly record in the second quarter of 2026: $123.9 billion, up 4% from a year earlier, according to figures LIMRA released on July 27, 2026. It was the eleventh consecutive quarter above $100 billion, and first-half sales reached $231.3 billion, also a record, up 2% from the first half of 2025.

Headline records tend to get reported as a verdict on the product. They aren't. The useful information is in the mix — which products grew, which shrank, and why — because that tells you what other buyers are being offered and what to check before you follow them. Below is the breakdown, followed by what each line means if you are the one shopping.

The numbers by product line

All figures are LIMRA's second-quarter 2026 estimates, with the change versus the same quarter of 2025 unless noted.

• Registered index-linked annuities (RILAs): $23.3 billion, up 22% — a new quarterly record, and up 11% from the first quarter. First-half RILA sales were $44.4 billion, up 21%. LIMRA attributed the growth to buyers drawn to "upside participation and downside protection" as equity markets set new highs.
• Fixed-rate deferred annuities (MYGAs): $44.7 billion, down 2% — still the largest category by dollars, and up a sharp 26% from the first quarter. LIMRA said demand accelerated "as crediting rates climbed across every duration." First-half sales were $80.3 billion, down 7% from 2025.
• Fixed-indexed annuities (FIAs): $30.7 billion, down 7% — up 14% from the first quarter, but LIMRA noted cap rates remained slightly below prior-year levels despite some mid-quarter improvement. First-half sales were $57.5 billion, down 5%.
• Traditional variable annuities: $17.9 billion, up 25%, with first-half sales of $35.1 billion, up 21%.
• Single-premium immediate annuities (SPIAs): $4.0 billion, up 12%, and deferred income annuities (DIAs): $1.3 billion, up 5% (and up 32% from the first quarter). LIMRA linked income-annuity demand to higher interest rates combined with an aging population.

One caution on the MYGA figure. LIMRA's "fixed-rate deferred" category and the MYGA category tracked by Wink, Inc. are defined differently, and they diverge this quarter: Wink's tally, reported by Retirement Income Journal on August 29, shows MYGA sales up roughly 17% from the first quarter but down more than 18% from a year earlier. The direction is the same in both — a spring rebound from a weaker 2026 start — but the size of the year-over-year decline depends on whose definition you use. We cite LIMRA as the primary source and note the difference rather than pick a winner.

What the RILA record means if you're shopping

RILAs set another quarterly record and extended a multi-year growth streak (traditional variable annuities actually grew slightly faster this quarter, 25% versus 22%), and the appeal is easy to see: index-linked credits with a stated buffer or floor against losses. The record is a reminder to be precise about which protection you are buying. A buffer absorbs an initial portion of an index loss and you bear the rest; a floor caps your loss at a stated level. Those behave very differently in a deep drawdown, and both are measured at the end of a crediting term, not day to day. Early withdrawals and charges can change the outcome. Our RILA guide walks through the mechanics; the short version is that a record number of people are taking market risk inside a partially protected wrapper, and the size of the buffer, the cap on gains, and the term length matter more than the product's popularity.

What the MYGA rebound means

Fixed-rate deferred sales jumped 26% from the first quarter as crediting rates rose, yet they still came in below last year. That pattern fits what published rate sheets showed in the second quarter: rates were attractive by the standard of the last fifteen years but generally below their 2023–2024 peaks. Yields have risen since. The 5-year Treasury, which ranged from about 3.8% to 4.3% in the second quarter, closed at 5.02% on October 9, 2026, so check current rate sheets rather than relying on the second quarter's pattern.

Two practical points follow. First, the figure to compare is the effective annual yield of a specific product, not the headline. Some of the highest advertised MYGA rates are first-year bonus rates credited as simple interest, which compound to materially less over the term; our rate comparison shows effective yields with the published schedule beneath each such figure and the date each carrier's rate was last checked. Second, compare that effective yield against the APY of a same-term CD you can actually open, after tax if the money sits in a taxable account, rather than against a national average that includes branch banks paying close to nothing. The MYGA vs. CD guide shows the math.

What the FIA slip means

Fixed-indexed sales fell 7% year over year even as they recovered from the first quarter, and LIMRA's explanation is the one that matters to a buyer: cap rates stayed below where they were a year ago. Caps and participation rates are set by the carrier and can change at each crediting period, so an FIA illustration from last year is not a guide to what a contract issued today will credit. Ask for the current cap, the current participation rate, and the carrier's history of renewal rates on the same product, and read our explainer on caps and participation rates before comparing two offers.

What growing income-annuity sales mean

SPIA and DIA sales are small next to the deferred categories, but both grew, and DIA sales rose 32% from the first quarter. Higher rates raise the monthly income a given premium buys, and more retirees are reaching the age where a guaranteed floor for essential expenses is the question rather than accumulation. If that is your situation, the trade-offs are the same as ever: a life-only payout pays the most per month and stops at death, joint-life and period-certain options pay less and protect others, and the income is guaranteed only by the issuing insurer's claims-paying ability. Our payout options guide and payout calculator cover the choices.

What a sales record doesn't tell you

It doesn't tell you whether an annuity fits your plan. Record sales reflect carrier pricing, distribution, and market conditions as much as consumer need, and every category above includes products that are right for some buyers and wrong for others. It doesn't tell you where rates go next; LIMRA offered no forecast, and neither do we. And it doesn't tell you anything about a specific contract's caps, fees, surrender schedule, or the strength of the insurer behind it, which are the things that will actually determine your outcome.

The way to use a report like this is as a map of what you are likely to be offered this fall: more RILAs, MYGAs with rates that reward shopping across carriers, FIAs whose caps deserve a hard look, and income annuities priced better than they were a few years ago. Then evaluate the specific product on its own terms, ideally with a written checklist and a licensed professional who can show you the contract, not the brochure.