A promised paycheck, guaranteed by the insurer.
An income annuity exchanges a premium for a stream of payments. The payments can last for a fixed period, for your life, or for the joint lives of two people. The amount you receive depends on your age, gender, payment timing, payout option, and the insurer's pricing at purchase.
SPIA, DIA, and QLAC
SPIA
Single Premium Immediate Annuity. You pay one premium and income begins within a year. Payments can be life, period certain, or joint life.
DIA
Deferred Income Annuity. You pay now, but income starts later — typically 2 to 20 years. The delay generally increases the eventual payment.
QLAC
Qualified Longevity Annuity Contract. A DIA purchased with qualified dollars that starts after age 72, allowing RMD deferral on the premium used.
What actually changes a real payout
- • Age at income start: Older annuitants generally receive larger monthly payments because the expected payout period is shorter.
- • Gender: Life-only payments often differ by gender because of different life expectancy assumptions.
- • Single vs. joint life: Joint life pays less per month because payments continue until the second person dies.
- • Payout option: Life-only pays more than life with period certain or cash refund, which add guarantees for beneficiaries.
- • Interest-rate environment: Higher rates at purchase generally mean higher payouts.
How a human-verified quote works
I collect your age, state, premium range, and payout goals, then shop the available carriers for the strongest combination of payout, rating, and contract terms. No online calculator can capture every carrier's pricing at once, and quotes change daily.
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