Current Income Annuity Rates
Compare current income annuity rates from top-rated carriers and secure guaranteed lifetime payments you cannot outlive. Income annuities provide dependable monthly checks—perfect for retirees who want peace of mind and stability, regardless of market conditions.
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Why Choose an Income Annuity?
- Guaranteed Income for Life: Payments continue as long as you live, no matter how long retirement lasts.
- Market Protection: Your income is not affected by stock market downturns.
- Customization: Choose single or joint life, inflation protection, and period certain guarantees.
- Higher Payouts: Income annuities typically offer higher payout percentages than 401(k) withdrawals.
Example of Income Annuity Payout
If a 65-year-old invests $500,000 into a single premium immediate annuity (SPIA), the payout could be approximately $40,000 annually for life, depending on rates and options selected. That’s equivalent to an 8% payout rate—double the common 4% rule for retirement withdrawals.
Interested in current fixed annuity rates or current bonus annuity rates?
💰 Current Income Annuity Rates (Sample)
| Age | Deposit | Annual Payout | Estimated Payout % | Carrier Rating |
|---|---|---|---|---|
| 65 | $1,000,000 | $80,000 | 8.0% | A |
| 70 | $1,000,000 | $80,800 | 8.8% | A- |
| 75 | $1,000,000 | $90,600 | 9.6% | A |
| 80 | $1,000,000 | $100,800 | 10.8% | A+ |
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Use our Lifetime Income Calculator below to see how much guaranteed income you could generate from your retirement savings.
What’s Next?
Income annuities can transform a portion of your savings into a reliable retirement paycheck. Whether you want immediate income (SPIA) or future guaranteed income (DIA), we help you compare options from over 100 top-rated carriers and select the right fit for your goals.
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FAQs: Current Income Annuity Rates (SPIA & DIA)
What are current income annuity rates?
They’re today’s payout factors for Single Premium Immediate Annuities (SPIAs) and Deferred Income Annuities (DIAs). A higher rate means more guaranteed monthly income per $1,000 of premium.
What’s the difference between a SPIA and a DIA?
A SPIA starts income right away (typically within 12 months). A DIA defers income to a future date—longer deferral usually means a higher eventual payout rate.
What factors determine my payout rate?
Age at first payment, gender, single vs. joint life, deferral length (for DIAs), interest rates, premium size, state of issue, and rider choices (e.g., COLA, period certain, refund) all impact the quote.
How often do carriers change SPIA/DIA rates?
Updates can be monthly or even weekly depending on markets and carrier pricing. Quote windows are time-limited, so timing matters.
Do payout options affect the rate?
Yes. Life-only pays the highest income. Adding guarantees—period certain, cash or installment refund, joint & survivor, or a COLA—reduces the initial payout in exchange for added protections.
Can health or lifestyle increase my income?
Sometimes. Several carriers offer medical (impaired-risk) underwriting for SPIAs/DlAs. Certain conditions or reduced life expectancy can qualify you for higher income.
How do COLA or inflation riders change payments?
A fixed COLA (e.g., 2% or 3%) or CPI-linked increase lowers the starting payment but steps income up over time to help offset inflation.
Are payments liquid or cashable?
Income annuities are designed for irrevocable, guaranteed income. Most contracts have little to no liquidity beyond scheduled payments, except certain refund/commutation features where available.
What happens if I die early?
With life-only, payments stop. With period-certain or refund options, beneficiaries receive remaining guaranteed payments or a premium/remaining value per the rider you selected.
How are SPIA/DIA payments taxed?
In non-qualified contracts, each payment is part taxable gain and part tax-free return of principal using the exclusion ratio. In IRAs/qualified plans, payments are generally fully taxable as ordinary income.
Do income annuities satisfy RMDs?
When an IRA annuity is annuitized under IRS rules, the scheduled payments generally satisfy the RMD for that specific contract. Other IRA balances still have their own RMDs.
What is a QLAC and does it affect “current rates”?
A QLAC is a DIA inside an IRA that can start as late as age 85 and is excluded from RMD calculations until income begins. Its payouts follow DIA pricing and your deferral period.
Is there a rate-lock on quotes?
Many carriers offer short quote guarantees (often 2–4 weeks) once an application and/or funds are received. Confirm the lock terms before moving money.
Can I 1035 exchange to improve my payout?
For non-qualified policies, a 1035 exchange can move values into a SPIA/DIA without current taxation. Compare surrender charges, market value adjustments, and new payout terms first.
How do I shop for the best income?
Request multi-carrier quotes using the same parameters—start date, guarantee period, riders, and premium. Small setting changes can materially change the payout.
