U.S. Annuity Sales Hit a Record $461 Billion in 2025
Every year LIMRA publishes the industry’s scorecard for annuity sales. The 2025 full-year numbers just came out, and they confirm what we have been seeing in our own shop: Americans within a decade of retirement are pulling serious money out of brokerage accounts and putting it into fixed and indexed annuities.
Total U.S. individual annuity sales reached $461 billion in 2025. That is a record. For context, full-year 2020 sales were $231 billion. The category has roughly doubled in five years.
What to Know
- U.S. annuity sales hit a record $461 billion in 2025, per LIMRA.
- Fixed indexed annuities (FIAs) grew 12% to $116 billion – a category record.
- Multi-year guaranteed annuities (MYGAs) still pulled in $116 billion despite rates coming off their 2023 highs.
- The numbers say the same thing retirees keep telling us: they want guaranteed income, not more market risk.
Why Sales Keep Rising
Three things are driving the surge:
1. Guaranteed rates are still attractive. Top MYGA rates on 5-year terms sat between 4.8% and 5.6% for most of 2025, down from the 2023 peak but still well above what savings accounts and short-duration Treasuries pay. If you want principal protection and a rate you can see in writing, an annuity is the easiest way to lock it in.
2. Fixed indexed annuities keep getting better. The newest generation of FIAs pays market-linked interest when the S&P 500 is up, and zero percent (not a loss) when the market is down. Caps and participation rates are more competitive than they have been in years. See our FIA cap rates page for current numbers.
3. The retirement income gap is real. Most workers today do not have a pension. Social Security replaces about 40% of pre-retirement income for the average worker. The gap between what Social Security provides and what retirees actually need is what annuities are designed to fill.
Breaking Down the $461 Billion
Not all annuities are the same. Here is how the $461 billion split across product categories in 2025:
- Fixed indexed annuities (FIAs): $116 billion (up 12% year-over-year, new category record)
- Multi-year guaranteed annuities (MYGAs): $116 billion (down ~6% from 2023 peak but still historically strong)
- Registered index-linked annuities (RILAs): $66 billion (up 18%, fifth straight year of double-digit growth)
- Traditional variable annuities: $62 billion (roughly flat)
- Single premium immediate annuities (SPIAs) and deferred income annuities (DIAs): approximately $15 billion combined
Fixed indexed annuities are now the single largest category, which is why carriers keep adding FIA products. If you are newer to FIAs, start with our fixed index annuity guide.
Who the Top Carriers Were in 2025
The top FIA sellers in 2025 were Athene, Allianz Life, Corebridge Financial, and the Sammons Financial Group (parent of Midland National and North American). On MYGAs, the rate leaders were Athene, Global Atlantic, and Sammons. On SPIAs, Mutual of Omaha, New York Life, MassMutual, and Penn Mutual continued to price competitively for ages 65 and up.
We shop across 50+ top-rated carriers to find the best rate for each client. For a full list of the top-rated companies in our shop, see our best fixed annuity companies for 2026 page.
What the Data Does Not Show
LIMRA numbers capture sales volume. They do not capture whether buyers got a good deal. In 2025 I saw plenty of people buy annuities that were sold to them rather than chosen by them. Common mistakes:
- Taking the first rate you see. On a $250,000 deposit, a 30 basis point difference in rate is $750 per year. Over 5 years that is $3,750.
- Not reading the surrender schedule. Most fixed annuities lock you in for 3 to 10 years. If you might need the money sooner, pick a term that matches.
- Buying the product with the biggest bonus. Premium bonuses often come paired with lower base rates or longer surrender schedules. Run the math before accepting the bonus offer.
- Skipping the company rating check. Your annuity is only as strong as the insurer behind it. We stick to A-rated carriers or better. See our carrier directory.
What This Means if You Are Thinking About an Annuity
If the $461 billion number tells you anything, it is that a lot of your peers have already made this decision. That is not a reason by itself to buy. But it does tell you the category is deep, competitive, and well regulated.
For someone in their late 50s to mid-70s with $100,000 to $500,000 to position for retirement income, a fixed annuity is worth a serious look. The decision tree I walk clients through:
- Do you need the money in the next 3 years? If yes, skip annuities and stick with CDs or money market.
- Do you want guaranteed principal with a fixed rate? Look at a MYGA matched to your time horizon. See our current fixed annuity rates.
- Do you want principal protection plus potential upside tied to the market? Look at a fixed indexed annuity.
- Do you need income starting now or within a few years? Consider a SPIA or DIA for the income portion.
Call us or use the contact form if you want to compare specific rates for your situation. We do not sell the annuity that pays us the most; we show you the full menu and let you decide.
Sources & Citations
- LIMRA U.S. Individual Annuity Sales Survey (Full-Year 2025)
- American Council of Life Insurers (ACLI)
- National Association of Insurance Commissioners (NAIC) Consumer Resources
- AM Best Carrier Ratings Lookup
Editorial Disclosure: MyAnnuityStore.com is an independent insurance agency. We work with 50+ top-rated carriers and may earn compensation when you request a quote. Our analysis and opinions are our own and are not influenced by carrier relationships.
