Annuity guide
Best Annuities for Guaranteed Income
If your primary goal is generating the highest possible guaranteed income in retirement, choosing the right annuity is critical. We compare income rider payout rates, lifetime withdrawal percentages, and actual income projections from the top annuity companies to help you find the best income annuity.
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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.
Calculate your annuity income
Enter your age, investment amount, and timeline to see personalized income projections from top-rated companies.
How annuity income works
Annuity income is generated through a process called annuitization or via income riders. With an income rider, your "income base" grows at a guaranteed rollup rate (typically 6–8% annually) during the deferral period. When you activate income, you receive a percentage of the income base each year — guaranteed for life, regardless of market conditions or how long you live.
What is a Lifetime Income Rider?
A lifetime income rider is an optional benefit added to a deferred annuity that guarantees a stream of income for life. The rider grows an 'income base' at a guaranteed rollup rate during deferral, then pays a percentage of that base annually once activated. Typical rider fees range from 0.75% to 1.25% per year.
Benchmark annuity income by company
Live benchmark income for a $500,000 investment, from our current ARW rate feed:
| Company | Benchmark Product | Income Rider | $500K Income |
|---|---|---|---|
| North American income starts at 67 | Income Pay Pro 10 | Income Pay Pro 10 Level Guarantee Lifetime Withdrawal Benefit | $58,038/yr |
| Aspida income starts at 67 | Synergy Choice Income | Synergy Choice Income Guaranteed Lifetime Income Benefit Rider | $56,935/yr |
Key takeaway
The highest-paying annuity we track for guaranteed income is North American's Income Pay Pro 10, generating approximately $4,837/month ($58,038/year) from a $500,000 investment starting at age 67. For income maximization, compare the live benchmark table above rather than a carrier's headline rate alone.
Strategies to maximize annuity income
- Defer as long as possible: Each year of deferral increases your income base by the rollup rate. A 5-year deferral at 8% can increase your income by 40–47%.
- Compare payout rates, not just rollup rates: A high rollup rate means nothing if the payout percentage is low. Look at the actual dollar income at your target age.
- Consider joint-life payouts: If you have a spouse, joint-life income ensures payments continue for both lifetimes — though the monthly amount will be slightly lower.
- Time your purchase with rate cycles: Annuity rates tend to follow interest rate trends. In a rising-rate environment, shorter deferral periods or laddering can capture improving rates.
Income annuity vs. systematic withdrawals
A common question is whether to use an annuity for income or simply withdraw from a portfolio. The key advantage of an annuity is longevity protection — you cannot outlive the payments. With systematic withdrawals at the traditional 4% rate, a $500,000 portfolio generates $20,000/year with the risk of depletion. The same amount in a top annuity generates $58,038/year, guaranteed for life.
Frequently asked questions
Common questions about the best annuities for guaranteed income.
What is a lifetime income rider?
A lifetime income rider is an optional benefit you can add to a deferred annuity that guarantees you a stream of income for life, regardless of how long you live or how your account performs. The rider typically has a rollup rate that grows your income base during the deferral period, and a payout rate based on your age when you begin taking income. Rider fees typically range from 0.75% to 1.25% annually.
How do annuity rates compare to CDs?
Annuity rates, particularly MYGAs, often exceed bank CD rates by 0.50% to 1.50% or more. As of 2025, top MYGA rates range from 5.00% to 5.75% for 3-5 year terms, while comparable bank CDs typically offer 4.00% to 5.00%. The key difference is that annuity earnings grow tax-deferred, while CD interest is taxed annually. However, annuities have surrender periods while CDs may offer more liquidity.
What are surrender charges?
Surrender charges are fees imposed by the insurance company if you withdraw more than the allowed free amount during the surrender period (typically 5-10 years). These charges usually start at 7-10% in the first year and decline annually until they reach 0%. Most annuities allow you to withdraw up to 10% of your account value each year without surrender charges. Understanding the surrender schedule is crucial before purchasing an annuity.
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