When it comes to retirement investing, many people face a dilemma: they want growth that keeps pace with the market, yet they’re wary of losing money in downturns. Enter the Registered Index-Linked Annuity (RILA) – a financial product that blends opportunity and protection, offering a compelling middle way for those nearing retirement.

A RILA is a deferred annuity tied to the performance of a market index such as the S&P 500 but with built-in protections like caps on gains and buffers against losses. Think of it as a hybrid between two familiar types of annuities:

· Fixed Indexed Annuities (FIA): Provide a guaranteed floor but limit gains.

· Variable Annuities (VA): Offer high growth potential but come with greater risk.

A RILA offers more upside than an FIA yet less risk than a VA.

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