Today's top SPIA payouts (age 65, life-only, $100K)
| Carrier | Product | AM Best | Monthly Income |
|---|---|---|---|
| New York Life | Guaranteed Lifetime Income | A++ | $685/mo |
| MassMutual | RetireEase | A++ | $672/mo |
| Pacific Life | Income Provider | A+ | $668/mo |
Approximate SPIA payouts by age (per $100,000, life-only)
| Age | Male | Female | Joint (both) |
|---|---|---|---|
| 60 | $615/mo | $595/mo | $535/mo |
| 65 | $685/mo | $655/mo | $585/mo |
| 70 | $790/mo | $745/mo | $655/mo |
| 75 | $935/mo | $870/mo | $755/mo |
| 80 | $1,140/mo | $1,045/mo | $890/mo |
Estimates only — your live quote depends on state, gender, and current carrier pricing.
How SPIA rates are set
SPIA payouts are driven by two inputs: prevailing long-bond yields and your remaining life expectancy. The older you are, the higher the monthly payout because the carrier expects to make fewer payments over your lifetime. Today's high-rate environment has pushed SPIA payouts to their highest levels since the early 2000s.
Payout options that change your rate
- Life-only: highest monthly amount, payments stop at death.
- Life with period certain: guarantees payments for a set period (10/20 years) even if you die early.
- Life with cash refund: any unpaid premium is refunded to your beneficiary.
- Joint and survivor: continues as long as either spouse lives — lower monthly amount.
For deferred-start income, see our QLAC guide. For non-income annuity rates, compare our MYGA rates.
Frequently asked questions
- What are immediate annuity rates today?
- Today's top single premium immediate annuity (SPIA) payouts for a 65-year-old reach approximately $685/mo per $100,000 of premium, life-only. Rates rise with age (a 75-year-old typically receives 25%–35% more) and vary by payout option (life-only, period certain, joint-life).
- How much income does a $100,000 immediate annuity pay?
- For a 65-year-old, a $100,000 SPIA life-only quote currently pays about $685/mo per month — roughly $8,000–$8,200 per year. A joint-life payout (two lives) is typically 10%–15% lower. Period-certain options pay more but stop after the period ends.
- What's the difference between an immediate and deferred annuity?
- An immediate annuity starts paying income within 12 months of the premium. A deferred income annuity (DIA) is purchased today but begins payments at a future date (often 5–20 years later), generating substantially higher monthly income because the carrier holds the premium longer.
- Can you outlive an immediate annuity?
- Not if you choose a life-only or joint-life payout — those continue as long as you (or you and your spouse) live. Period-certain payouts only pay for the chosen period (e.g., 10 or 20 years). Life-with-cash-refund options guarantee at least the premium is returned.
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