Annuity Income Estimator (SPIA)

Single Premium Immediate Annuity — give an insurer a lump sum, get a guaranteed monthly check for life. Estimates use 2026 industry payout rates; actual quotes vary by insurer.

📖 About this tool

What it does

Estimates monthly income from a Single Premium Immediate Annuity (SPIA) — give an insurer a lump sum, get a guaranteed check for life. Uses 2026 industry payout rates interpolated by age, gender, and annuity type.

Who this helps

Retirees considering converting some portfolio assets into guaranteed income. The classic 'longevity insurance' purchase — you can't outlive a SPIA.

How to use it

Enter the lump sum you'd annuitize.
Pick your starting age and gender (longevity tables differ).
Choose annuity type: single life, joint with 50% or 100% survivor, or single life with period certain.
Optionally add a COLA inflation rider (lower starting income, but it grows with inflation).
Compare the lifetime payout to self-managing the lump sum invested at your expected return.

What it doesn't do

Payout rates are ballpark — actual quotes vary by insurer (always shop multiple). Doesn't model insurance-company default risk (covered up to state guaranty limits, varies by state).

Inputs

The Annuity

Lump Sum to Annuitize ($)

Your Age at Start

Gender

Type

Spouse's Age

Inflation Rider (COLA)

A COLA rider trades lower starting income for inflation protection. Joint annuities pay less per month than single (longer expected payout period).

Compare to Investing

Investment Return on the Lump Sum (%/yr)

Expected Lifespan (years from now)

What It Buys You

Cumulative Income — Annuity vs Self-Managed