How Much Does a $300,000 Annuity Pay Per Month?
A $300,000 single premium immediate annuity (SPIA) pays a 65-year-old man about $1,992/month for life — $1,905/month for a woman, or $1,749/month for a couple with 100% survivor benefit. Here are the exact numbers by age.
$300,000 Annuity: Monthly Income by Age (July 2026)
Best available monthly payment among 8 top-rated carriers, life-only payout. Joint figures assume both spouses the same age with 100% survivor benefit.
| Age at Purchase | Male | Female | Joint (Couple) |
|---|---|---|---|
| 55 | $1,725/mo | $1,674/mo | $1,533/mo |
| 60 | $1,854/mo | $1,791/mo | $1,638/mo |
| 65 | $1,992/mo | $1,905/mo | $1,749/mo |
| 70 | $2,262/mo | $2,112/mo | $1,977/mo |
| 75 | $2,646/mo | $2,415/mo | $2,295/mo |
| 80 | $3,177/mo | $2,925/mo | $2,715/mo |
Monthly income based on $100,000 premium. Rates are sample estimates — request a personalized quote for exact figures. Figures scaled from per-$100,000 carrier rates.
A $300,000 Annuity Can Replace a Pension
A generation ago, a typical corporate pension paid a retiree $1,500–$2,000 per month. A $300,000 SPIA purchased at 65 essentially recreates that pension: roughly $1,990/month for a man, guaranteed for life, from an A-rated insurance company. If you never had a pension — or your lump-sum buyout left you without one — this is the closest financial equivalent you can buy.
Married couples often choose the joint-and-survivor option at this level so payments continue for both lifetimes.
What Affects Your Exact $300,000 Payout
- Your age. Every year you wait, the monthly payout rises — a man's best rate on $300,000 climbs from $1,992/mo at 65 to $2,262/mo at 70. See our guide to the best age to buy an annuity.
- Payout option. Life-only pays the most. Adding a 10-year period certain or cash-refund feature protects your heirs for a modest reduction. Compare options in our payout options guide.
- The carrier. On identical contracts, quotes across our 8 A-rated carriers currently differ by 5–6% — on $300,000 that is real money every month, for life. Compare current rates.
- Interest rates. SPIA payouts track bond yields. Rates rose about 5% between May and July 2026, so quotes are near multi-year highs. Locking a quote holds your rate for 7–14 days.
- Taxes. Buy with after-tax money and a large share of each payment is a tax-free return of principal. See how annuities are taxed.
Frequently Asked Questions
How much does a $300,000 annuity pay per month?
As of July 2026, a $300,000 single premium immediate annuity (SPIA) with a life-only payout pays approximately $1,992 per month for a 65-year-old man, $1,905 for a 65-year-old woman, and $1,749 for a 65-year-old couple (100% joint and survivor). Payments range from about $1,545 at age 55 up to $3,177 at age 80.
How much does a $300,000 annuity pay per year?
A $300,000 SPIA purchased at age 65 pays approximately $23,904 per year for a man and $22,860 per year for a woman, guaranteed for life. At age 70, a man's annual income rises to about $27,144.
Is a $300,000 annuity protected if the insurance company fails?
Yes, up to your state guaranty association's limit — $250,000 of annuity present value per owner per insurer in most states. Because $300,000 exceeds the typical limit, many buyers split the premium across two or more A-rated carriers so each contract stays fully protected.
What determines my exact payout on a $300,000 annuity?
Your age (older buyers receive more), sex (men receive more monthly because of shorter life expectancy), the payout option (life only pays the most; joint and survivor or cash-refund options pay less), current interest rates, and the carrier you choose. Rates between carriers regularly differ by 5–10% for identical contracts, which is why comparing quotes matters.
See What $300,000 Would Pay You
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