Defined terms for the annuity market and lifetime income landscape.
A registered index-linked annuity (RILA) is a deferred annuity in which the crediting rate is linked to a market index, with the contract owner retaining a defined portion of downside risk through a buffer or floor and the insurer setting caps, participation rates, and other upside parameters.
Regulation Best Interest is an SEC rule adopted in 2019, effective June 30, 2020, that establishes a standard of conduct for broker-dealers when making a securities recommendation to a retail customer, requiring the broker-dealer to act in the retail customer's best interest.
Rehabilitation of insurance companies is the state regulatory process under which the domiciliary state's insurance commissioner takes control of a financially impaired carrier and attempts to restore it to solvency, as an alternative to liquidation.
