How Much Does a $100,000 Annuity Pay Per Month?

How Much Does a $100,000 Annuity Pay Per Month

A $100,000 annuity would pay you $479 per month for the rest of your life if you purchased the annuity at age 65 and begin your payments immediately.

Using the latest annuity quoting software I have compared 2000+ annuity contracts and 302 annuity income riders from 56 top annuity companies to create this guide that tells you approximately much a $100,000 annuity would pay you per month at various ages.

If you are wondering how much annuities pay you’re not alone. The term “annuity calculator” is Googled an estimated 44,000 times each and every month.

Annuities are commonly used as part of a retirement income plan because they pay you a monthly income that is guaranteed to last your lifetime; even if you live to be 110.

How Much Does a $100K Annuity Pay Per Month?

A $100,000 annuity would pay you $365 per month if you purchased the annuity at age 55 and begin taking your monthly payments immediately. A $100K annuity would pay you $438 per month if you bought it at age 62 begin taking your monthly payments immediately.

The table below lists how much a $100,000 annuity would pay you per month beginning immediately for ages 55 through 70. 

How Much Do Annuities Pay?

How much do annuities pay? The table shows how much a $100,000 annuity pays per month beginning immediately and the monthly annuity payment for $200,000, $300,000, $500,000, and a $1,000,000 annuity. 

As you can see the old you are when you begin taking your annuity payments – the higher those payments are.

Immediate Annuity Payments Table

AGE $100,000.00 $200,000.00 $500,000.00 $1,000,000.00
55$365.00$730.00 $1,825.00 $3,650.00
56$372.00$744.00 $1,860.00 $3,720.00
57$381.00$762.00 $1,905.00 $3,810.00
58$388.00$776.00 $1,940.00 $3,880.00
59$397.00$794.00 $1,985.00 $3,970.00
60$438.00$876.00 $2,190.00 $4,380.00
61$438.00$876.00 $2,190.00 $4,380.00
62$438.00$876.00 $2,190.00 $4,380.00
63$442.00$884.00 $2,210.00 $4,420.00
64$450.00$900.00 $2,250.00 $4,500.00
65$479.00$958.00 $2,395.00 $4,790.00
66$479.00$958.00 $2,395.00 $4,790.00
67$479.00$958.00 $2,395.00 $4,790.00
68$483.00$966.00 $2,415.00 $4,830.00
69$492.00$984.00 $2,460.00 $4,920.00
70$521.00 $1,042.00 $2,605.00 $5,210.00

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How Much Interest Does a $100,000 Annuity Pay?

You don’t have to buy an income rider or annuitize to get monthly income from an annuity. It is very common to buy a fixed annuity (CD Type Annuity) and take systematic monthly withdrawals of interest.

 

A $100,000 annuity with a fixed annuity rate of 3.15% would pay you $262.50 per month in interest.

 

Use the calculator below to see how much interest an annuity would pay you.

Deferred Annuity Rates

You can compare current fixed annuity rates at our online annuity store.

Best Annuities to For Income Immediately

The tables below list the top three fixed index annuities (highest monthly payments for immediate income) for 60, 65, and a 70-year-old.

Immediate Lifetime income age: 60

AnnuityMonthlyAnnualRatingFee
Symetra$417$5,000A1.20%
Nassau Re$412$4,940B+.95%
Great American$398$4,770A+1.15%

Immediate Lifetime income age: 65

AnnuityMonthlyAnnualRatingFee
Nationwide$479$5,665A+1.00%
#rowspan#Sentinel Security Life$459$5,508B++1.05%
Symetra$398$5,500A1.20%

Immediate Lifetime income age: 70

AnnuityMonthlyAnnualRatingFee
Sentinel Security Life$504$6,048B++1.05%
Global Atlantic$500$6,000A1.00%
Nationwide$495$5,940A+1.00%

Frequently Asked Questions

All annuities have the ability to be turned into a guaranteed lifetime income; however, many types of annuities are purchased only for accumulation. Income Annuities are those that are designed specifically to generate a lifetime income stream. The 3 types are:

  1. Immediate annuity (provides guaranteed, lifelong income starting 1-12 months after purchase)
  2. Deferred Immediate Annuity (DIA), or Longevity Annuity (provides guaranteed, lifelong income starting 2-40 years after purchase)
  3. Qualified Longevity Annuity Contract or QLAC (a longevity annuity purchased with IRA funds starting after age 72)
  4. Deferred annuity with a lifetime income rider

Single-Premium Immediate Annuities do not charge a fee. However, there is a fee to add a guaranteed income rider to a deferred annuity. The fee comes out of your account value and does not reduce your annuity payments.

Generally speaking, the best time to buy an annuity intended to generate lifetime income is 10 years prior to taking lifetime income payments. So if your desired retirement age is 65, you should purchase your income annuity at age 55 or shortly thereafter to maximize the benefits provided by lifetime income riders.

A $100,000 annuity would pay you $479 per month for life if you purchased it at 65 and began payments in 30 days.

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