RILA is a common abbreviation for registered index-linked annuity, a deferred annuity product that offers returns based on the performance of an equity index, subject to downside buffers or floors and upside caps or participation limits. Unlike traditional fixed indexed annuities, RILAs are registered as securities and can expose contract values to partial market losses beyond the protection level. They are sold by appropriately licensed representatives and require a prospectus. RILAs are designed for investors seeking more upside potential than fixed products with structured, limited downside risk compared with direct equity exposure.

In practice, advisors and wholesalers refer to these products simply as RILAs when discussing portfolio construction, product training, or suitability review. They compare different RILA offerings by buffer depth, cap levels, crediting terms, and available indices. Compliance and supervision teams emphasize clear disclosure of RILA risks, such as potential loss of principal, changing caps, and liquidity constraints. When integrating a RILA into a retirement plan, advisors evaluate time horizon, risk tolerance, and coordination with other assets. Using the shorthand "RILA" is convenient, but advisors must still ensure that clients fully understand the structure, trade-offs, and regulatory protections associated with these products.