Annuity Atlas
Refinance

Refinance guide

Better income: could you be earning more?

If your annuity's income isn't what you expected — or if you haven't started income yet and want to maximize your guaranteed paycheck — today's products may deliver significantly more income per dollar than what was available when you purchased your contract.

Free tool

Better income wizard

Takes 90 seconds. No obligation. Compare your guaranteed income against 34+ carriers. We'll show what today's products could pay — in real dollars.

Step 1 of 520%

About you

01

Income annuities that match this goal

Income-rider and immediate-income products from our reviewed lineup. Filter by your state, age, term, and carrier strength — the benchmark income figure is the guaranteed annual payout per $100,000.

State
Age
Term
A.M. Best rating
Premium
Qualified?
Showing 12 of 153 products
ProductTypeA.M. BestTermIssue agesIncome / $100kRating
Athene Ascent Pro 10
Athene
FIAA+10-yr0-85$11,175★ 4.2View →
American Equity IncomeShield 10
American Equity
IncomeA10-yr40–80$10,950★ 4.2View →
Nationwide Peak 10
Nationwide
FIAA+10-yr0–85$10,938★ 4.1View →
Allianz Retirement Foundation ADV
Allianz
IncomeA+7-yr0-80$10,450★ 4.5View →
Protective Income Builder
Protective Life
IncomeA+7-yr50-85$9,975★ 4.3View →
Nationwide INCOME Promise Select
Nationwide
IncomeA+0-yr0–95—★ 4.4View →
Allianz Core Income 7
Allianz
IncomeA+7-yr0-80—★ 4.4View →
American National Select Income Focus 7
American National
IncomeA7-yr50-80—★ 4.4View →
Allianz Index Advantage Income ADV
Allianz
FIAA+0-yr0-80—★ 4.4View →
American Equity EstateShield 10
American Equity
IncomeA10-yr40–75—★ 4.3View →
Nationwide New Heights Select 10
Nationwide
FIAA+10-yr0–80—★ 4.3View →
Nationwide Stable Income
Nationwide
IncomeA+7-yr45–85—★ 4.3View →
Compare my income options
02

Why your current income may be lower

Interest rates have risen substantially since 2020–2022

Products issued during the low-rate era have lower guaranteed rates and payout factors baked into their contracts. Today's products reflect the current, higher-rate environment.

Income rider payout factors vary enormously between carriers

The payout factor — not the roll-up rate — is the multiplier that determines your actual income. A product with a modest roll-up but a higher payout factor can pay more than a flashy high-roll-up product.

Older FIA income riders may have lower payout factors

Even if your benefit base has grown, the annual income it produces may be less than what a new product could generate from a smaller starting balance.

Variable annuity fee drag erodes your income base

If you own a variable annuity with high fees (2.5–3.5%/year), those fees are eroding the base from which income is calculated. Moving to a lower-cost FIA with an income rider can produce more income because less is being consumed by fees.

SPIA payout rates are directly tied to interest rates

A SPIA purchased in 2021 at age 65 (male) might have paid $530/month on $100,000. In 2026, that same purchase could produce $650–$700/month — a 20–30% increase.
03

How to determine if you can get better income

01

Know your current guaranteed income

If your income rider is active, what is your annual Lifetime Payment Amount (LPA)? If you haven't started income, what would it be if you activated today?

02

Get a competitive quote

Request income illustrations from 3–5 carriers for the same dollar amount, same income start age, and same payout type (single vs. joint life). Compare the guaranteed annual income in dollars.

03

Account for the cost of switching

If you'd pay a surrender charge to exchange, subtract that from the amount transferred. Then compare the income from the new product on the reduced amount vs. your current income.

04

Consider the breakeven

If the new product pays $1,200/year more in income but you paid $3,000 in surrender charges, the breakeven is 2.5 years. Beyond that, you're ahead for life.

04

Income improvement scenarios

Old FIA income rider vs. new FIA income rider

  • Your current FIA (purchased 2019) has a benefit base of $150,000 with a payout factor of 4.25% at age 65 = $6,375/year.
  • A new FIA income rider on the same $150,000 (after a penalty-free transfer at surrender period end) offers a 5.50% payout factor = $8,250/year.
  • That's $1,875 more per year — for life.

Outcome

+$1,875/year for life

Variable annuity to FIA with income rider

  • Your variable annuity has $200,000, paying 3.00% in total annual fees ($6,000/year in fee drag).
  • Moving to an FIA with an income rider at 1.15% ($2,300/year) saves $3,700/year in fees alone.
  • The FIA also provides guaranteed lifetime income that the variable annuity's sub-accounts cannot guarantee.

Outcome

$3,700/year in fee savings + guaranteed income

No income rider to SPIA

  • You own a MYGA or FIA without an income rider and now need guaranteed income.
  • You cannot add a rider to an existing contract after issue.
  • You can 1035 exchange into a SPIA for immediate, guaranteed, lifetime income at today's elevated payout rates.

Outcome

Immediate lifetime income at today's higher rates

05

Frequently asked questions

Can I improve my income without replacing my annuity?
In most cases, no. Income rider terms are locked at issue. You cannot retroactively change payout factors or roll-up rates. The primary way to improve income is to move to a product with better terms. However, if your current contract allows annuitization, that option may produce competitive income without a replacement.
What if I've already started income on my current rider?
Once income has been activated on most riders, the contract cannot be 1035 exchanged without terminating the income stream. In this case, replacement rarely makes sense. The exception is if your current income amount is very low relative to what a new product could provide.
Is it worth paying a surrender charge to get better income?
It depends on the math. If the new product produces $2,000/year more in guaranteed income and the surrender charge is $5,000, you break even in 2.5 years and then benefit for life. Run the numbers — don't guess.
06

Explore more

Should I Replace?Better GrowthLower Fees1035 ExchangeIncome RidersAnnuity Taxes

Replacing an existing annuity involves potential surrender charges, loss of existing benefits or riders, new surrender periods, and tax implications. This content is for educational purposes only. All guarantees are backed by the claims-paying ability of the issuing insurance company.

Find out if you could be earning more income

  • Today's payouts in real dollars
  • Single or joint life
  • 100% free. No pressure.
Compare my income options