Income Annuity Rates: SPIA and Income Rider Payouts by Age

What Are Income Annuity Rates Today?

Income annuity rates today pay a 65-year-old man about $701 a month for life for every $100,000 put into an immediate annuity (SPIA). An income rider that starts paying right away pays about $665 a month at the same age. Wait 10 years to turn the rider on, and that same $100,000 pays about $1,490 a month.

• SPIA: usually pays the most when income starts now, but the lump sum is gone in exchange for the checks.
• Income rider: pays a little less up front, but you keep an account value and a death benefit.
• Waiting: every year you put off income raises the check, on both SPIAs and riders.
• Couples: joint income is lower because the checks continue until the second spouse dies.

All figures are monthly income per $100,000 of nonqualified money. SPIA figures are the top quotes from carriers rated A- or better, as of October 2026. Income rider figures are the top quote from 19 or more live rider quotes through AnnuityRateWatch, as of October 18, 2026, Indiana. Your state, premium and health questions can change a quote.

Immediate Annuity (SPIA) Rates by Age

A single premium immediate annuity turns a lump sum into a guaranteed check that starts within a year. The table shows life-only payouts, which stop when you die.

Monthly income per $100,000, life only. Couple = both spouses the same age, 100% of the income continues to the survivor.

SPIA Rates With an Installment Refund

An installment refund keeps paying your beneficiaries until the checks add up to at least what you paid in. It costs a little income, but no one loses the premium to an early death.

What Moves a SPIA Payout

• Age: the older you are when you buy, the fewer checks the carrier expects to pay, so each check is bigger.
• Sex: women live longer on average, so a woman gets a smaller check than a man the same age.
• Payout option: life only pays the most, and refunds or period-certain guarantees pay less.
• Interest rates: carriers back SPIAs with bonds, so payouts follow the 10-year Treasury yield^[2] up and down.

Income Rider Payouts by Age: Starting Now, in 5 Years and in 10 Years

An income rider is a guaranteed lifetime withdrawal benefit added to a fixed index annuity. It pays a set percentage of an income base for life, even if the account itself runs dry. Unlike a SPIA, the payout is the same for men and women.

Single Life Income Rider Payouts

Joint Life Income Rider Payouts

Monthly income per $100,000, top quote in each cell, after any roll-up credited before income starts. Joint = both spouses the same age, income continues to the survivor.

Why Waiting Raises Rider Income So Much

Two things work for you while the rider waits. The income base grows by a guaranteed roll-up each year, and the payout percentage rises with your age.

• Starting at 65: about $7,980 a year.
• Starting at 70: about $12,495 a year, when bought at 65.
• Starting at 75: about $17,880 a year, when bought at 65.

Run your own age, premium and start date below to see the carriers behind these numbers.

SPIA vs. Income Rider: Which Pays More?

A life-only SPIA usually pays more than an income rider when income starts right away. The rider gives up some income in exchange for keeping your account value, a death benefit and access to your money.

Single Life: Income Starting Now

Joint Life: Income Starting Now

Monthly income per $100,000. SPIA = life only. Both income options last for life.

What You Trade for the Extra SPIA Income

• Access to your money: a rider keeps an account value you can withdraw from, subject to surrender charges. A SPIA has no account value.
• Money left to heirs: a rider leaves whatever is left in the account. A life-only SPIA leaves nothing.
• Fees: a rider charges a yearly fee, usually around 1% of the income base. A SPIA has no separate fee.
• Flexibility: you choose when to turn rider income on. A SPIA starts within a year and can’t be changed.

Deferred Income: Income Rider vs. Deferred Income Annuity

If you can wait for income, a deferred income annuity (DIA) is the rider’s main competitor. You pay now and the carrier starts the checks on a date you pick.

• DIA, man buying at 65, income at 75: about $1,787 a month per $100,000.
• Income rider, bought at 65, income at 75: about $1,490 a month per $100,000.

A DIA usually pays more for the same wait because it has no account value to protect. A rider costs income, but you can still reach your money, change the start date or leave the balance to heirs. Our guide to SPIA vs. DIA vs. MYGA shows how to use all three in an income ladder.

How to Get the Highest Income Annuity Payout

1. Compare carriers: the top rider quote for a 65-year-old waiting 10 years is about $17,880 a year, while the sixth-best is about $16,734. One quote from one company can leave real money on the table.
2. Pick the payout option on purpose: life only pays the most, but a refund or joint option may fit your family better.
3. Delay if you can: each year of waiting raises the check on both SPIAs and riders.
4. Check the carrier: a lifetime check is only as good as the company behind it, so compare the best fixed annuity companies and their AM Best ratings.
5. Plan for taxes: with nonqualified money, part of each SPIA check is a tax-free return of premium under the IRS General Rule for annuities^[3]. IRA money is fully taxable.

Not sure how long the income needs to last? The Social Security life expectancy calculator^[4] gives a quick estimate for your age. Our guide to income annuities explains each type in more detail.

Income annuity rates move with interest rates, so get a written quote for your exact age, state and start date before you buy.

Frequently Asked Questions