My Annuity Store White Logo

Immediate Annuity Payouts

Immediate Annuity Payouts: Senior woman helping senior man to use computer

How Much Do Immediate Annuities Pay in 2021

A $100,000 Immediate Annuity would pay $449 monthly assuming you buy the annuity at age 65 and begin payments immediately. Assuming the same scenario, a 65-year-old female would receive $421 per month.

What are Immediate Annuity Payouts Today?

To give you an idea of what a $100,000 immediate annuity would pay you per month I’ve created the tables below.

I’ve included the guaranteed monthly payment for single life payment option as well as joint life with cash refund payment option. There are many immediate annuity payment options available, too many to cover here.

If you would like, you may request a personalized immediate annuity quote here; we respond to all requests within 4 business hours.

60 Year Old Immediate Annuity Payments

Annuitization Income Option at 60MaleFemaleJoint- Life
Life Only$395$375$357
Life with Cash Refund$367$351$338

65 Year Old Immediate Annuity Payments

Annuitization Income Option at 65MaleFemaleJoint-Life
Life Only$449$421$389
Life with Cash Refund$401$382$368

The above numbers are the best immediate annuity payouts available from an A+ Rated Insurance Company at the time this was written.

When you purchase an immediate annuity you are essentially converting a lump sum into a series of guaranteed income payments and give up control of the asset.

Immediate Annuity Payment Options

There are different income annuity payout options available to you. We’ve already mentioned a couple of the options throughout this guide; below is a comprehensive list of all the income annuity payout options offered in an income annuity.

  • Life Only: payments stop at death (or later of two deaths for joint).
  • Joint Life Payment Option: payments stop at the latter of two deaths.
  • Life with Cash Refund: optional on life only or joint-life only payout that will pay your beneficiaries the difference between the original purchase amount and the sum of all payments received upon insured’s death or death.
  • Life with Period Certain: optional on life only or joint-life only payout that guarantees to make payments for at least a certain number of years. Payments will continue to beneficiaries if the insured passes away during this period of time.
  • Period Certain Only: Will pay you monthly annuity payments for only a specific number of years; income is not guaranteed for life.

Are Immediate Annuities a Good Investment in 2021?

Due to the current interest rate environment, annuitization typically isn’t the first choice. Based on current pricing an index annuity with an income rider pays a higher guaranteed lifetime income.

Indexed annuities with an income rider also provide the annuity contract owner more flexibility your goals, needs or objectives change over time. 

However, there are certain situations in which an immediate annuity makes sense and is a useful tool. Not an investment but a tool. 

Reasons you should buy an Immediate Annuity

  • When attempting to “Spend-down” for Medicaid Eligibility
  • As an “income bridge” to cover living expenses in order to delay Social Security to age 70
  • As an income source for a certain period to convert traditional IRA to a ROTH using “bracket-bumping method.”
  • For “spendthrifts” 
  • Wealth Transfer Strategy
  • Over “charitable” parents or grandparents

Get an Immediate Annuity Quote

Complete the form below and we will send you a personalized immediate annuity quote. We respond to all requests within 4 business hours. If you would like more immediate assistance we are available via phone and email at (855) 583-1104 or

You can also use one of our annuity calculators to run a quote immediately.

More on Income Annuities

Jason Caudill, MBA

Jason Caudill, MBA

Jason Caudill is President of My Annuity Store, Inc. and has distributed more than $1.5 Billion of annuities during his career. He believes a lack of access to educational materials and annuity products has hindered the widespread adoption of these strategies in the United States. Jason has been a student of annuities since the age of 21 when was an intern for New York Life Insurance Company. His mission is to help change the way annuities are bought and sold.

Related Content

Can I Retire at 60 with $500K?

Can I Retire at 60 with $500K?

How Much Do I Need to Retire at 60? Are you approaching your 60th birthday with a nagging question on your mind – can I

As Seen On:

NBC logo
ABC Logo
fox logo
MarketWatch logo
Investopedia logo
CBS Logo

Client Reviews

Scroll to Top

Get a Free Annuity Quote

Complete the form below and we’ll email your annuity quote within 4 business hours. For more immediate assistance you may reach us at 855-583-1104.

Join Our Newsletter

Sign up and get monthly annuity rate updates sent directly to your inbox.