Variable Annuity Sales Surge as Market Confidence Remains High
Annuity buyers continued to show faith in the market as 2025 came to a close, with traditional variable and structured annuity sales up significantly, Wink Inc. reported.
Structured annuities, also known as registered index-linked or RILAs, recorded $21.3 billion in Q4 sales, up 7% compared to the third quarter and up 23.8% compared to the year-ago quarter, Wink found.
Structured annuities allow investors to participate in stock market gains (up to a cap) while providing a "safety net" against losses through buffers or floors.
Variable annuity sales in the fourth quarter were $18.7 billion, up 6.6% as compared to the previous quarter, and up 5.3% compared to the same period last year, Wink reported. Total 2025 variable annuity sales were $67.6 billion.
Total fourth quarter sales for all annuities were $116.9 billion, down 0.6% when compared to the previous quarter and up 16.7% when compared to the same period last year. Total 2025 sales for all annuities were $448.9 billion. Since Wink began tracking sales of all annuities, it marked a record-setting year, topping the prior 2024 record by 4.9%.
All annuities include the multi-year guaranteed annuity, traditional fixed annuity, indexed annuity, structured annuity, variable annuity, immediate income annuity and deferred income annuity product lines.
Total fourth quarter sales for all deferred annuities were $113.3 billion, down 0.4% compared to the previous quarter and up 17.3% compared to the same period last year. Total 2025 deferred annuity sales were $434.9 billion. This was a record-setting year for deferred annuity sales, topping the prior 2024 record by 5.3%.
Total fourth quarter non-variable deferred annuity sales were $73.2 billion, down 4% when compared to the previous quarter and up 18.9% compared to the same period last year. Total 2025 non-variable deferred annuity sales were $291.3 billion. This was a record-setting year for deferred non-variable annuity sales, topping the prior 2024 record by 0.9%. Non-variable deferred annuities include the MYG annuity, traditional fixed annuity, and indexed annuity product lines.
Total fourth quarter variable deferred annuity sales were $40.1 billion, up 6.8% when compared
to the previous quarter and up 14.4% when compared to the same period last year. Total 2025 variable deferred annuity sales were $143.6 billion. Variable deferred annuities include structured annuity and variable annuity product lines.
Total fourth quarter income annuity sales were $3.6 billion, down 6% when compared to the previous quarter and up 1.3% compared to the same period last year. Total 2025 income annuity sales were $13.9 billion. Income annuities include immediate income annuity and deferred income annuity product lines.
Multi-year guaranteed annuity sales in the fourth quarter were $37.8 billion, down 12.1% compared to the previous quarter, and up 29.9% compared to the same period last year. Total 2025 MYGA sales were $162.5 billion. MYGAs have a fixed rate that is guaranteed for more than one year.