A registered index-linked annuity (RILA) is a type of deferred annuity that offers returns tied to the performance of an equity index or indices, subject to both downside buffers or floors and upside caps or participation limits. Unlike fixed indexed annuities, RILAs are registered as securities and can expose contract values to partial market losses up to a specified limit. Policyowners choose among index crediting strategies with different levels of protection and growth potential. RILAs appeal to investors seeking more upside than traditional fixed products but with some downside risk mitigation compared with direct market investments. As securities, they require prospectuses and are sold through appropriately licensed representatives.

Advisors position registered index-linked annuities as tools for clients who are comfortable with measured market risk and want structured outcomes-such as defined loss limits and caps-over set index terms. Illustrations and marketing materials compare hypothetical outcomes under varying market returns and strategy choices. Compliance reviews focus on explaining downside exposure, cap changes, liquidity restrictions, and fee structures. When integrating RILAs into retirement plans, advisors consider time horizon, risk tolerance, and coordination with other assets. Because RILAs are relatively complex, clear education and thorough documentation are crucial to satisfying Reg BI, state best-interest rules, and firm supervision standards.