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*
$1,520
Score
90/100
Monthly Income*
$1,450
Score
89/100
Monthly Income*
$1,490
Score
88/100
Monthly Income*
$1,400
Score
87/100
Monthly Income*
$1,460
Score
86/100
Monthly Income*
$1,480
Income-focused retirees seeking aggressive rollup growth and lifetime guarantees
Score
84/100
Monthly Income*
$1,520
Investors comfortable with RILA buffered crediting and multiple segment-type selection
Score
84/100
Monthly Income*
$1,410
Score
83/100
Monthly Income*
$1,320
Accumulators seeking long-term growth with principal protection and broad index options
Score
82/100
Monthly Income*
$1,425
Score
82/100
Monthly Income*
$1,400
Score
82/100
Monthly Income*
$1,530
Score
82/100
Monthly Income*
$1,485
Conservative savers prioritizing principal protection and carrier strength
Score
82/100
Monthly Income*
$1,430
Score
82/100
Monthly Income*
$1,320
Savers prioritizing principal protection with indexed crediting flexibility
Score
82/100
Monthly Income*
$1,400
Investors comfortable with RILA structure seeking income with market-linked growth opportunity
Score
81/100
Monthly Income*
$1,450
Investors seeking competitive guaranteed rates from a modern, tech-forward carrier
Score
80/100
Monthly Income*
$1,430
Score
72/100
Monthly Income*
$1,125
Older or younger buyers (ages 0-89) who cannot qualify with carriers having tighter age limits
Score
68/100
Monthly Income*
$700
*Monthly income based on $250,000 investment at age 65 with guaranteed lifetime payments.
Income projections by investment amount
Estimated guaranteed lifetime income from top-rated annuities at age 65.
| Company | $100,000 | $250,000 | $500,000 | $1,000,000 |
|---|---|---|---|---|
| Athene Annuity | $545/mo | $1,520/mo | $3,040/mo | $6,830/mo |
| American Equity | $520/mo | $1,450/mo | $2,900/mo | $6,500/mo |
| Allianz Life | $535/mo | $1,490/mo | $2,980/mo | $6,750/mo |
| Mutual of Omaha | $510/mo | $1,400/mo | $2,800/mo | $6,350/mo |
| Nationwide | $525/mo | $1,460/mo | $2,920/mo | $6,600/mo |
| Jackson National | $530/mo | $1,480/mo | $2,960/mo | $6,700/mo |
| Protective Life | $535/mo | $1,520/mo | $3,040/mo | $6,900/mo |
| Equitable | $505/mo | $1,410/mo | $2,820/mo | $6,380/mo |
| Prudential | $480/mo | $1,320/mo | $2,640/mo | $6,100/mo |
| North American | $515/mo | $1,425/mo | $2,850/mo | $6,450/mo |
| Principal | $500/mo | $1,400/mo | $2,800/mo | $6,200/mo |
| Delaware Life | $530/mo | $1,530/mo | $3,060/mo | $7,100/mo |
| Symetra | $536/mo | $1,485/mo | $2,970/mo | $6,720/mo |
| American National | $515/mo | $1,430/mo | $2,860/mo | $6,380/mo |
| Pacific Life | $480/mo | $1,320/mo | $2,640/mo | $6,300/mo |
| Security Benefit | $510/mo | $1,400/mo | $2,800/mo | $6,200/mo |
| Transamerica | $525/mo | $1,450/mo | $2,900/mo | $6,500/mo |
| Aspida | $510/mo | $1,430/mo | $2,860/mo | $6,540/mo |
| American Century | $450/mo | $1,125/mo | $2,250/mo | $4,750/mo |
| American Gulf | $280/mo | $700/mo | $1,400/mo | $2,800/mo |
Income figures are estimates based on current rates at age 65 with lifetime guarantee. Actual payouts may vary.
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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.
Income rider payout rates by company
Payout rates determine how much of your income base you receive each year. Higher rates mean more income:
| Company | Top Product | Rollup Rate | $500K Income (Age 65) |
|---|---|---|---|
| Athene Annuity | Athene Agility 10 | Up to 8.05% rollup | $36,480/yr |
| American Equity | IncomeShield 10 | Up to 7.50% rollup | $34,800/yr |
| Allianz Life | Allianz 222 | Up to 7.75% rollup | $35,760/yr |
| Jackson National | Jackson Market Link Pro II | N/A | $35,520/yr |
| Protective Life | Protective Income Builder | 10.00% simple rollup over 10 years | $36,480/yr |
| Nationwide | Nationwide Peak 10 | Up to 7.25% rollup | $35,040/yr |
| Mutual of Omaha | Mutual of Omaha Ultra-Secure Plus | Up to 7.00% rollup | $33,600/yr |
| Prudential | Prudential FlexGuard 2.0 | N/A | $31,680/yr |
| North American | Income Pay Pro | 8% compounded roll-up | $34,200/yr |
| Equitable | Structured Capital Strategies Plus 21 Advisor NY | Up to 16.5% cap (10% buffer) | $33,840/yr |
| Principal | Principal Strategic Outcomes | Up to 102% participation (S&P 500, 6-year, 10% buffer) | $33,600/yr |
| Delaware Life | Delaware Life TruePath Income | Up to 9.75% compound rollup | $36,720/yr |
| Symetra | Symetra Income Edge Plus | N/A | $35,640/yr |
| Transamerica | Transamerica Structured Index Advantage Income | No-fee lifetime income rider included | $34,800/yr |
| American National | Select Income Focus 7 | Up to 12% or 14% rollup (rider-dependent) | $34,320/yr |
| Aspida | Aspida WealthLock MYGA 7-Year | 5.15% - 5.30% | $34,320/yr |
| Pacific Life | Pacific Advisory Variable Annuity | N/A | $31,680/yr |
| Security Benefit | ClearLine Annuity | Up to 12.50% cap | $33,600/yr |
| American Century | American Century SPDA | 5.40% - 5.70% (varies by term) | $27,000/yr |
| American Gulf | Anchor MYGA | Fixed rate for 5, 6, or 7 years | $16,800/yr |
Key takeaway
The highest-paying annuity for guaranteed income is Athene's Agility 10, offering a rollup rate up to 8.05% and generating $36,480/year from a $500,000 investment at age 65. For income maximization, prioritize companies with the highest income option scores in our rankings.
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 $35,000–$36,000/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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