Immediate Annuity Calculator

Your details

The single premium you pay the insurance company to purchase the annuity.
The assumed annual rate the insurer applies when computing your payments. Current SPIA rates for a 65-year-old typically range from 5% to 7%.
%
Period certain pays for a set number of years regardless of death. Life only pays until death. Life with period certain guarantees the longer of life or the chosen period. Life with cash refund returns any unused principal to your beneficiary.
The fixed number of years for period-certain, or the minimum guaranteed years for life-with-certain.
years
Used to estimate life expectancy for life-based payout types. Range: 50-90.
years
Women have longer average life expectancy, so the same premium yields a slightly lower payment under life-based options.
How often you receive payments. Monthly is the most common.
Currency
Payment amount
$722.54

Each scheduled payment from the annuity

Annual income$8,670.54
Total payments$158,959.86
Interest earned$58,959.86
Coverage period18.3years
Break-even point11.5years
Total payments$158,959.86
Interest earned$58,959.86
Annual income$8,670.54

Your annuity generates $722.54 per month.

  • Your life-only annuity pays $722.54 per month, or $8,670.54 per year.
  • Over the expected 18.3-year coverage period, you receive $158,960 in total, which is 59.0% more than your original premium.
  • You recover your $100,000 premium after roughly 11.5 years of payments.
  • Life-only annuities offer the highest payments but pay nothing to heirs if you die early. Consider a period-certain or cash-refund option if leaving a legacy matters.

Next stepCompare quotes from at least three insurers: rates can vary by 10-15% for the same profile. Also consider the insurer's financial strength rating (look for A or better from AM Best).

 = Powered by OnlyCalculators