Annuity guide
Best Annuities in Florida
Florida is one of the most popular states for retirees, and with no state income tax, annuity income goes further here. We compare the best annuity products available to Florida residents, considering available companies, carrier financial strength, and income optimization strategies.
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Top annuity companies compared
Ranked by overall score across income options, financial strength, fees, flexibility, and customer service.
Score
94/100
Monthly Income*
—
Score
90/100
Monthly Income*
—
Score
89/100
Monthly Income*
—
Score
88/100
Monthly Income*
—
Score
87/100
Monthly Income*
—
Score
86/100
Monthly Income*
—
Score
84/100
Monthly Income*
—
Income-focused retirees seeking aggressive rollup growth and lifetime guarantees
Score
84/100
Monthly Income*
—
Score
83/100
Monthly Income*
—
Conservative savers prioritizing principal protection and carrier strength
Score
82/100
Monthly Income*
—
Score
82/100
Monthly Income*
—
Accumulators seeking long-term growth with principal protection and broad index options
Score
82/100
Monthly Income*
$2,418/mo
at 67
Score
82/100
Monthly Income*
—
Score
82/100
Monthly Income*
—
Savers prioritizing principal protection with indexed crediting flexibility
Score
82/100
Monthly Income*
—
Score
82/100
Monthly Income*
—
Investors comfortable with RILA structure seeking income with market-linked growth opportunity
Score
81/100
Monthly Income*
—
Investors seeking competitive guaranteed rates from a modern, tech-forward carrier
Score
80/100
Monthly Income*
$2,372/mo
at 67
Score
72/100
Monthly Income*
—
Older or younger buyers (ages 0-89) who cannot qualify with carriers having tighter age limits
Score
68/100
Monthly Income*
—
*Monthly income based on a $250,000 investment with guaranteed lifetime payments, starting at each carrier's own real quoted age (shown per company above). Companies without a live benchmark show “—”.
Income projections by investment amount
Estimated guaranteed lifetime income from top-rated annuities. Each carrier's real income-start age is noted next to its name below.
| Company | $100,000 | $250,000 | $500,000 | $1,000,000 |
|---|---|---|---|---|
| Athene Annuity | — | — | — | — |
| American Equity | — | — | — | — |
| Allianz Life | — | — | — | — |
| Mutual of Omaha | — | — | — | — |
| Nationwide | — | — | — | — |
| Jackson National | — | — | — | — |
| Equitable | — | — | — | — |
| Protective Life | — | — | — | — |
| Prudential | — | — | — | — |
| American National | — | — | — | — |
| Delaware Life | — | — | — | — |
| North American income starts at 67 | $967/mo | $2,418/mo | $4,837/mo | $9,673/mo |
| Pacific Life | — | — | — | — |
| Principal | — | — | — | — |
| Security Benefit | — | — | — | — |
| Symetra | — | — | — | — |
| Transamerica | — | — | — | — |
| Aspida income starts at 67 | $949/mo | $2,372/mo | $4,745/mo | $9,489/mo |
| American Century | — | — | — | — |
| American Gulf | — | — | — | — |
Income figures are estimates based on current rates, each starting at the carrier's own real quoted age (shown per row above) with lifetime guarantee. Actual payouts may vary. “—” means we don't yet have a live benchmark for that carrier.
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Why Florida is ideal for annuity income
Florida is one of only seven states with no personal income tax, meaning 100% of your annuity income goes directly into your pocket. For example, for a retiree receiving $3,000/month from an annuity, that's a potential savings of $3,600–$7,200 per year compared to states with income tax rates of 4–8%.
Florida-specific annuity benefits
No State Income Tax
Florida has no personal income tax, so annuity distributions — whether from qualified or non-qualified contracts — are free from state taxation.
All Major Carriers Licensed
All top-rated annuity companies — including Athene, Allianz, Nationwide, and American Equity — are licensed and actively selling in Florida.
Asset Protection
Florida law (F.S. §222.14) provides strong creditor protection for annuity cash values and proceeds, shielding your retirement assets.
Key takeaway
Florida retirees benefit from zero state income tax on annuity distributions and strong asset protection laws. Combined with access to all major carriers, Florida is one of the best states in the country for annuity income.
Florida retirement income strategy
Florida's tax-free environment amplifies the value of annuity income. Suppose a retiree receives $36,000/year from an annuity in Florida — they keep the full amount, while the same income in California would net roughly $32,400 after state taxes. Over a 20-year retirement, that's an additional $72,000 in your pocket simply by living in Florida.
Choosing an annuity company in Florida
While all major carriers operate in Florida, we recommend prioritizing companies with AM Best ratings of A or higher. For larger investments, consider splitting across two highly rated insurers rather than concentrating with one. Florida's large retiree population means local agents are plentiful and experienced with annuity products.
Frequently asked questions
Common questions about the best annuities in florida.
Are annuities FDIC insured?
No, annuities are not FDIC insured because they are insurance products, not bank products. Annuities are backed by the financial strength and claims-paying ability of the issuing insurance company, which state regulators require to hold reserves against every contract. This is why choosing a financially strong insurance company is critical.
How are annuities taxed?
Annuity earnings grow tax-deferred, meaning you don't pay taxes on gains until you withdraw money. When you take withdrawals, the earnings portion is taxed as ordinary income (not capital gains). If you purchased the annuity with after-tax dollars (non-qualified), only the earnings are taxed. If purchased with pre-tax dollars (qualified, such as from an IRA), the entire withdrawal is taxable. Withdrawals before age 59½ may also incur a 10% IRS early withdrawal penalty.
What is the difference between qualified and non-qualified annuities?
A qualified annuity is purchased with pre-tax dollars, typically through an IRA or employer-sponsored retirement plan. All withdrawals are taxed as ordinary income. A non-qualified annuity is purchased with after-tax dollars. Only the earnings portion of withdrawals is taxed (using the LIFO method — last in, first out). Non-qualified annuities have no contribution limits, while qualified annuities are subject to IRA or plan contribution limits.
What is the best age to buy an annuity?
The ideal age to purchase an annuity depends on your goals. For deferred income annuities, buying between ages 50-60 allows time for the income base to grow before you need income. For immediate income, ages 65-75 typically offer the best payout rates. MYGAs can be purchased at any age for guaranteed returns. Generally, annuities make the most sense for people within 10-15 years of retirement or already retired who want guaranteed income.
What happens to my annuity when I die?
What happens depends on the type of annuity and the options you selected. Most deferred annuities include a death benefit that pays your beneficiary at least the account value or total premiums paid (whichever is greater). With income annuities, you can choose options like period certain (payments continue to beneficiaries for a set period), joint life (payments continue to a surviving spouse), or life only (payments stop at death). Choosing the right beneficiary options is an important part of annuity planning.
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