FIA vs. RILA Comparison Tool A side-by-side illustration calculator
Annuity strategy comparison

FIA vs. RILA through every market

Modeling crediting outcomes against historical S&P 500® annual returns. Configure each side to match current rate environments.
— Indexed annuity Strategy A

Fixed Indexed Annuity

S&P 500® annual point-to-point with cap. Principal protected.

% S&P 500 Cap
3% 20%
0% Floor — credited rate is never less than zero in any year.
Annual Fees
Contract / rider fee
%
Most FIAs have no explicit base contract fee. Use this field to model an optional income or death benefit rider.
— Index-linked annuity Strategy B

Registered Index-Linked Annuity

Configure crediting strategy, protection level, and upside.

Strategy Type
Buffer Level
%
5% 40%
Upside Cap
%
3% 50%
Annual Fees
Base contract fee
%
%
Total annual fee 1.25%
Deducted annually from Contract Value, compounding against each year's credit. Most RILA carriers assess this fee quarterly against the Charge Base; this model uses an annual approximation.

Choose a market period

$100,000 starting balance
Custom range — drag to adjust
2016 — 2025 10 years
Bars above the line are positive S&P 500 years; below the line are negative. Drag either toggle to set the range, or click anywhere on the timeline to snap the nearest toggle.
FIA — Ending Value
$0
Total return 0% · CAGR 0% · Negative years 0
RILA — Ending Value
$0
Total return 0% · CAGR 0% · Negative years 0
Difference
$0
—
Talking point: Position depends on the period chosen — see analysis below.

Account growth comparison

Compounded values over period
FIA (0% Floor + Cap)
RILA (configured strategy)
S&P 500® (price return reference)
Year S&P 500® Return FIA Credit FIA Value RILA Credit RILA Value Δ (FIA − RILA)
Methodology & Assumptions Calculations use S&P 500® price-return values (calendar year), as most RILA and FIA index options reference price-return indexes and do not credit dividends. FIA crediting uses an annual point-to-point method with a 0% floor — losses are never credited. RILA crediting follows the standard methodology for the selected strategy: Buffer (absorbs first X% of loss, caps upside), Guard (1-for-1 loss down to floor, caps upside), or Protection (100% protected on the downside, captures index return up to a cap on positive years). Annual fees are user-configurable and compound against year-end values: value × (1 + credit) × (1 − fee). Caps, buffers, floors, and fees are user inputs and may not reflect any specific carrier's current declared rates. Withdrawal charges, surrender charges, premium taxes, mid-term Daily Adjustments, optional rider charges beyond those entered, and any fund-level expenses (e.g., money-market-fund expenses while assets are in transitional holding) are not modeled. Past performance does not guarantee future results.
For Financial Professional Use Only — Not for Use With or Distribution to the Public
Important Disclosures
Please read carefully before using or relying on this tool
Mach96 is a life insurance agency. Mach96 and its representatives do not offer, sell, recommend, or provide advice on securities, investment products, mutual funds, variable annuities, registered index-linked annuities (RILAs), or investment advisory services of any kind. Registered Index-Linked Annuities are registered securities and may only be solicited, offered, sold, or recommended by an individual who holds an appropriate securities registration (such as FINRA Series 6 or Series 7) and is affiliated with a properly licensed broker-dealer.

This is a calculator only — not advice. This tool is a hypothetical illustration calculator made available for the convenience of licensed financial professionals. It is not investment advice, a recommendation, an opinion, a solicitation, an offer to buy or sell any security or insurance product, or a determination of suitability. Nothing displayed in this tool constitutes a representation by Mach96 about any specific product, carrier, rate, feature, or outcome.

No prospectus delivery — no replacement for required disclosures. RILAs are sold only by prospectus. The output of this calculator does not constitute, replace, or supplement a current product prospectus, statement of additional information, fact sheet, illustration of guaranteed values, buyer's guide, or any other disclosure document required by federal or state law or by the issuing carrier. A current prospectus must be delivered to and read by the contract owner before any RILA purchase. Prospectuses contain important information about investment objectives, risks, fees, charges, expenses, contract limitations, and other product-specific details that must be considered carefully.

Hypothetical rates and features. All rates, caps, floors, buffers, fees, and contract features shown are user-entered hypothetical values selected by the user solely for illustration purposes. They do not necessarily reflect any specific carrier's currently declared rates, contract terms, minimum guarantees, available index options, or product availability. Carriers may change rates at the beginning of each term in accordance with the contract; renewal rates may be lower than initial rates but are subject to contractual minimum guarantees described in each prospectus. Product features, rates, riders, and availability vary by state, share class, broker-dealer selling agreement, and time of issue.

Historical data and past performance. Historical S&P 500® index returns used in this calculator are price returns (excluding dividends). Past performance is not a guarantee of, indicative of, or predictive of future results. Index returns are not directly investable and do not reflect the deduction of fees, charges, or expenses. The S&P 500® price-return index does not reflect reinvested dividends and will differ materially from the total-return index commonly cited in financial media. Hypothetical back-tested results have inherent limitations because they are calculated with the benefit of hindsight.

Modeling simplifications. Calculations are simplified for illustration. Real contracts may differ materially due to mid-term Daily Adjustments or Interim Value calculations, quarterly rather than annual fee assessment timing, premium taxes, surrender charges and withdrawal charges, optional rider charges, market value adjustments, the precise method by which credits are applied on or near anniversary dates, and other carrier-specific contract mechanics. Bonuses, banded rates, multi-year strategies, participation rates, performance triggers other than those modeled, dual-direction or precision strategies, and other strategy variants offered by certain carriers are not modeled here.

Guarantees and product risks. Annuity contract and rider guarantees are backed exclusively by the financial strength and claims-paying ability of the issuing insurance carrier. Guarantees are not backed by Mach96, by any broker-dealer, by any bank, or by any federal or state government agency. Annuities are not bank deposits, are not FDIC-insured, and are not guaranteed by any bank or its affiliates. RILAs are subject to investment risk, including possible loss of principal and previously credited interest, depending on the protection feature selected and market index performance. Withdrawals may be subject to ordinary income tax and, if taken prior to age 59½, may be subject to an additional 10% federal tax.

Trademarks and third parties. S&P 500® is a registered trademark of S&P Dow Jones Indices LLC, a division of S&P Global, and has been licensed for use by various product issuers. Mach96 is not affiliated with, sponsored by, endorsed by, or promoted by S&P Dow Jones Indices, Standard & Poor's, or any issuing insurance carrier referenced or implied by this tool. References to general product types (Buffer, Guard, Protection, RILA, FIA) are generic and do not refer to any specific product or carrier.

Use of this tool. This tool is intended for use by licensed insurance professionals who are evaluating general product structures for client conversations. The user is solely responsible for ensuring that any subsequent client communication complies with all applicable federal and state laws, FINRA and SEC regulations (where applicable to that user's other licenses), state insurance regulations, advertising and supervisory requirements, and broker-dealer or insurance carrier policies. Output from this tool should not be presented to a client as a representation of any specific product. For any specific product recommendation, the consumer should consult the issuing carrier's current prospectus and disclosure documents and work with a financial professional appropriately licensed for the product in question.

© Mach96. All rights reserved. The information herein is believed to be reliable but is not guaranteed for accuracy or completeness. Mach96 reserves the right to modify this tool, its calculations, and these disclosures at any time without notice.