Short answer first. The annuity company that pays the most on an immediate annuity in our rate tables as of is New York Life (AM Best A++). It has the highest monthly figure in 17 of the 18 age-and-buyer combinations we publish: men, women and couples at 55, 60, 65, 70, 75 and 80. The one exception is couples at 80, where Western & Southern leads at $847 per $100,000. The lowest carrier pays 11% to 24% less than the top one, depending on age and who is being covered. For a 65-year-old man that gap is $120 a month on every $100,000, for life.
The ranking comes from quote surveys our agent runs for real clients: 65 surveys since July 14, 2026, 59 of them used for pricing. We publish 8 of the carriers quoted, each rated A or better by AM Best. None of the figures in our tables is a direct quote from the latest survey round. They are built from earlier rounds (read at surveyed ages, interpolated or derived from carrier ratios) and checked carrier by carrier against the latest one. The figures are a dated ranking, not an offer, and the carrier on top can change at the next round.
Highest-Paying Annuity Companies for Men: Single Life, Per $100,000
Each row shows the three highest-paying carriers for a man at that age, the lowest of the 8, and how far the lowest falls below the top as a share of the top figure (the spread). The basis is single life with a 5-year period certain (payments guaranteed for at least five years even if you die sooner), income starting one month after purchase, per $100,000 of premium. AM Best ratings are shown next to each name. The last column says how the figure at that age was built, in the words of our methodology page.
| Age | Highest | Second | Third | Lowest | Lowest below top | How built |
|---|---|---|---|---|---|---|
| 55 | New York Life (A++) $616 | Athene (A+) $590 | Western & Southern (A+) $587 | Lincoln Financial (A) $492 | 20% ($124/mo) | Interpolated, repriced |
| 60 | New York Life (A++) $649 | Athene (A+) $634 | Western & Southern (A+) $625 | Lincoln Financial (A) $515 | 21% ($134/mo) | Surveyed age, repriced |
| 65 | New York Life (A++) $693 | Athene (A+) $688 | Western & Southern (A+) $676 | Lincoln Financial (A) $573 | 17% ($120/mo) | Surveyed age, repriced |
| 70 | New York Life (A++) $767 | Athene (A+) $763 | Nationwide (A+) $751 | Lincoln Financial (A) $654 | 15% ($113/mo) | Interpolated, repriced |
| 75 | New York Life (A++) $893 | Nationwide (A+) $873 | Athene (A+) $872 | Lincoln Financial (A) $769 | 14% ($124/mo) | Interpolated, repriced |
| 80 | New York Life (A++) $1,046 | Nationwide (A+) $1,041 | Athene (A+) $1,037 | Lincoln Financial (A) $926 | 11% ($120/mo) | Surveyed age, repriced |
Highest, second, third and lowest of 8 carriers, male, single life, 5-year period certain, October 2026, monthly income per $100,000. Men's figures at ages 60, 65 and 80 are read at a surveyed age in an earlier round, then repriced. Men's figures at ages 55, 70 and 75 are interpolated between surveyed ages in an earlier round, then repriced. The full carrier-by-carrier figures are on the men's rate page, and the month-by-month trend is on best SPIA rates.
Source: LifeAnnuities.us quote surveys run for real clients. 54 base survey runs received and 52 used for pricing (July 14 to September 14, 2026), checked against 7 new survey runs (September 18 to 29, 2026): 1 of 8 published carriers repriced, 7 held. Joint figures at ages 65 and 70 are calibrated to a direct same-age joint quote. Single life or joint (100% to survivor), 5-year period certain, per $100,000. How we build these figures.
New York Life is first at every age for men. Athene is second at 60 and Nationwide is second at 80, so the chasing pack reshuffles even when the leader does not. Lincoln Financial is last in 17 of the 18, the exception being couples at 80 (Mutual of Omaha, $750). It is rated A and has been in business 121 years; it is simply quoting below the others this month. See the Lincoln Financial profile for what it does well.
On a $300,000 premium at 65, the difference between the top figure and the bottom one is about $360 a month, or roughly $4,320 a year, for the same contract from two A-rated insurers. The age 65 rate page lists all 8 carriers in order.
Highest-Paying Annuity Companies for Women and Couples
Women are quoted a little less than men at the same age because carriers expect to pay them longer, and a joint contract that pays 100% to the survivor is quoted lower again. The ranking still matters, and the spread between carriers is wider for these buyers than it is for men.
Women, single life
| Age | Highest | Second | Third | Lowest | Lowest below top |
|---|---|---|---|---|---|
| 55 | New York Life (A++) $602 | Western & Southern $581 | Athene $564 | Lincoln Financial $472 | 22% |
| 60 | New York Life (A++) $634 | Western & Southern $618 | Athene $605 | Lincoln Financial $493 | 22% |
| 65 | New York Life (A++) $658 | Athene $648 | Western & Southern $644 | Lincoln Financial $541 | 18% |
| 70 | New York Life (A++) $724 | Western & Southern $706 | Athene $705 | Lincoln Financial $607 | 16% |
| 75 | New York Life (A++) $839 | Western & Southern $810 | Nationwide $804 | Lincoln Financial $709 | 15% |
| 80 | New York Life (A++) $986 | Western & Southern $966 | Nationwide $962 | Lincoln Financial $856 | 13% |
Per $100,000, 5-year period certain, October 2026. All women's figures are derived from each carrier's own ratio to its men's quote at surveyed ages, then repriced. Full table on the women's rate page.
For women, Western & Southern is second at every age except 65, where Athene is ahead of it; for men, Athene is second at 55, 60, 65 and 70 and Nationwide at 75 and 80. The spread for women runs 13% to 22%, against 11% to 21% for men.
Couples, joint life, 100% to the survivor
| Age (both spouses) | Highest | Second | Third | Lowest | Lowest below top |
|---|---|---|---|---|---|
| 55 | New York Life (A++) $572 | Western & Southern $551 | Athene $533 | Lincoln Financial $435 | 24% |
| 60 | New York Life (A++) $585 | Western & Southern $574 | Athene $561 | Lincoln Financial $448 | 23% |
| 65 | New York Life (A++) $608 | Athene $595 | Western & Southern $594 | Lincoln Financial $492 | 19% |
| 70 | New York Life (A++) $659 | Western & Southern $647 | Athene $645 | Lincoln Financial $553 | 16% |
| 75 | New York Life (A++) $731 | Western & Southern $730 | Penn Mutual $722 | Lincoln Financial $640 | 12% |
| 80 | Western & Southern (A+) $847 | Nationwide $836 | Athene $835 | Mutual of Omaha $750 | 11% |
Per $100,000, both spouses the same age, 100% of the payment continues to the survivor, 5-year period certain, October 2026. Joint figures at ages 55, 60, 75 and 80 are derived from each carrier's own ratio to its men's quote at surveyed ages, then repriced. Joint figures at ages 65 and 70 are derived by ratio, then calibrated to a direct same-age joint quote (both spouses 66) from the latest round. Full table on the joint rate page.
New York Life leads at 65 with $608 a month per $100,000. The joint spread runs 11% to 24%. At 80 for couples the lead passes to Western & Southern, the only place where New York Life is not on top. Western & Southern is second for couples at 55, 60, 70 and 75 on top of its first place at 80, which makes it the steady alternative to the leader on a joint contract. See the Western & Southern profile.
Why the Spread Narrows With Age
The lowest carrier pays 24% less than the top for couples at 55 and 11% less for men at 80. For men the shortfall goes from 20% at 55 to 11% at 80. In dollars the gap is much steadier: for men it is between $113 and $134 a month at every age from 55 to 80, while the top figure itself goes from $616 to $1,046 over that range, so a similar gap is a smaller share of a bigger check. The pattern follows from how an immediate annuity is priced.
At 55, a carrier is promising payments it expects to make for roughly three decades. It prices those payments off the yield it thinks it can earn on your premium over that whole period and off its own table of how long buyers like you live. Two carriers that differ by a fraction of a percent on the yield, or by a year or two on expected lifetime, end up far apart on the monthly figure once those differences compound over thirty years.
At 80, the horizon is much shorter. A larger share of each check is simply your own premium coming back, the 5-year period certain covers a bigger slice of the payments the carrier expects to make, and the yield and mortality assumptions have fewer years to compound. The dollar difference between carriers stays in the same band, but the check it sits on is far larger, so as a percentage it shrinks.
This is also why the carrier that is top at 60 is not guaranteed to be top at 75. Each company sets its own mortality assumptions, its own view on rates and its own appetite for income-annuity business that quarter. Nationwide, for example, is 4th for men at 60 and 2nd at 80. Western & Southern goes the other way, from 3rd at 60 to 4th at 80. The leader has been first for men at every age this round, but a carrier that wants more business at older ages can move up a rank or two in a single repricing. Our guide to annuity payout options explains how the period certain and refund features change the figures at each age.
Who Moved This Round
As of October 1, 2026 we checked the tables against 7 of the 11 surveys received, prepared September 18 to 29, 2026, covering 17 carriers, ages of the first-named buyer 52 to 66. One of the 8 carriers we publish moved. Athene's quotes were up about 1.8%, measured at ages 59 and 62 and applied to Athene's whole table. A comparison at age 52 showed a larger rise, about 3.1%. The other 7 keep the figures they had in our last tables because, with the exception below, their quotes were the same as before, or within what premium size and age in months explain. The one wrinkle is New York Life: readings were mixed, so we held its figures until the next round. Two direct comparisons with mid-September quotes came in 0.7% and 1.6% higher once premium size is allowed for. A third, measured through August, came in 0.6% lower.
In the review note for these tables, Phil recorded that New York Life was the top payer among the 8 published carriers in every survey used from that round, which matches the 17 of 18 first places above.
The whole history of each carrier's moves since July is on the methodology page, along with the survey log.
The Highest Payer Is Not Always the Right Buy
The highest figure is not the whole decision.
Financial strength. Every carrier in our tables is rated A or better. AM Best's own guide to its scale places A++ and A+ in the Superior category and A and A- in Excellent (Guide to Best's Financial Strength Ratings). This round the top payer also carries the top grade, so there is no trade-off to make. When that changes, and it does, the question becomes how many dollars a month a notch of rating is worth to you for a promise that has to last 25 years. Our page on the safest annuity companies walks through the scale, the A++ list and what happens if an insurer fails.
State guaranty limits. If your carrier were ever liquidated, your state's life and health guaranty association would cover your contract up to a limit. In most states the limit is $250,000 of present value (roughly, what it would cost to buy the payments you are still owed), applied separately for each failed insurer, with a cap of $300,000 per person for any one insolvency (NOLHGA policyholder FAQ). Some states cover more. A buyer putting $400,000 into one contract with one carrier is above that limit in most states. Splitting the premium between the first and second carrier in the table above brings the whole amount inside the limit, and this month costs $5 a month per $100,000 at 65 on the half that goes to the second carrier. Confirm your own state's figure with its association before relying on it.
Premium tax. A handful of states tax premiums paid with non-IRA money (non-qualified annuities), and the carrier deducts the tax before crediting your premium. A table in the ranking does not show that. Our guide on how to compare SPIA quotes lists the states and rates, and the state taxes guide covers the income-tax side.
Quote lock windows. A quote is good for a limited number of days, and the lock after you sign an application varies by carrier. The leader on a Monday can be second by the time your IRA transfer lands if you let the window lapse. The compare-quotes guide above explains how the windows work and what to ask for in writing.
Carriers People Search For That Are Not in This Table
Four names people often look for are missing from the ranking, for two different reasons.
- Allianz Life does not sell an immediate annuity. Its annuities page lists fixed index annuities and registered index-linked annuities, both deferred products (Allianz Life, annuities). What Allianz sells instead.
- MetLife spun off Brighthouse Financial, which sells annuities and life insurance, in a separation completed August 4, 2017. MetLife's own retirement and income solutions site is addressed to plan sponsors, advisers and brokers, with pension risk transfer and structured settlements. What happened to MetLife annuities.
- Prudential sells a SPIA (Pruco Life's Prudential Immediate Income Annuity disclosure statement, form P-SPIA-DISC(8/24)) but is not one of the 8 carriers in our published tables, so there is no figure to rank. Prudential profile.
- MassMutual is rated A++ by AM Best and sells a SPIA (its RetireEase brochure states both), but like Prudential it is not among the 8 carriers we publish. MassMutual profile.
Our broader best annuity companies page ranks carriers on ratings, history and product features rather than on this month's figure. The two pages answer different questions.
How to Use This Table
Treat the ranking as a shortlist, not a decision. Ask every carrier to quote exactly the same contract: your exact date of birth (not just your age), the same sex, state, premium, payout option and income start date, all run on the same day. Compare the monthly dollar figure. A quoted "payout rate" of 7% is just $7,000 a year per $100,000 and includes your own principal coming back; the dollar figure is what you will live on.
That is the survey behind every number on this page, and Phil runs it for anyone who asks. Request a free multi-carrier SPIA quote and you will get a dated, ranked list from the 8 carriers above, plus any other carrier that is competitive for your age and state. No obligation. If you want to size the premium first, the immediate annuity calculator converts a lump sum to a monthly figure at your age.
Questions People Ask About the Highest-Paying Annuity Companies
Which insurance company pays the most on an immediate annuity right now?
In our October 2026 tables, New York Life (AM Best A++) has the highest figure in 17 of the 18 age-and-buyer combinations we publish: men, women and couples from 55 to 80. The exception is couples at 80, where Western & Southern leads at $847 per $100,000. For a 65-year-old man the top figure is $693 a month per $100,000. The order can change at the next round, and your own quote depends on your exact birthday, state and payout option.
How big is the gap between the highest and lowest SPIA payout?
Across the 18 combinations of age and buyer in our October 2026 tables, the lowest carrier pays 11% to 24% less than the top carrier for the same age, sex, premium and payout option. The widest gap is couples at 55 (24%) and the narrowest is men at 80 (11%). For a 65-year-old man that is $693 against $573 per $100,000, a difference of $120 a month or about $1,440 a year for life.
Does the highest paying annuity company change with age?
The top spot is steadier than the rest of the order. New York Life leads in 17 of the 18 in our October 2026 tables, but second and third place move around. Nationwide is 4th for men at 60 and 2nd at 80, while Western & Southern goes from 3rd at 60 to 4th at 80. Each carrier prices its own mortality and yield assumptions, so a company that is sharp at 60 can be ordinary at 75. Compare at your own age.
Is the highest paying carrier also the safest?
In our October 2026 tables it happens to be. New York Life carries AM Best's top grade of A++, and AM Best's own guide places A++ and A+ in its Superior category and A and A- in Excellent. Every carrier we publish is rated A or better. The ranking can change, so when a lower-rated carrier takes the top spot, decide whether the extra monthly income is worth the step down in rating. Our safest annuity companies page covers the scale and the guaranty limits.
Why are Allianz, MetLife and Prudential not in the ranking?
Allianz Life's annuity page lists fixed index and registered index-linked annuities and no immediate annuity. MetLife's spin-off Brighthouse Financial, which sells annuities and life insurance, completed its separation from MetLife on August 4, 2017, and MetLife's own retirement and income site now serves plan sponsors and institutions. Prudential and MassMutual do sell a SPIA, but neither is among the 8 carriers in our published tables, so there is no figure to rank. We can include them in your own quote when they are competitive.
How do I get the top carrier's quote for my own age?
Ask for every carrier to quote the same thing: your exact date of birth, your state, the same premium, the same payout option and the same income start date. Then compare the monthly dollar figure, not a percentage. We run that survey across the 8 carriers above and the other carriers we quote (17 in the latest round) from one request on the quote page, and the quote is free with no obligation. The tables on this page are per $100,000; a $300,000 premium pays roughly three times the figure shown.
Source: LifeAnnuities.us quote surveys run for real clients. The figures start from quotes our agent runs for real clients, not advertised rates or illustrations. For the base tables we received 54 survey runs covering 30 client scenarios, prepared July 14 to September 14, 2026, and used 52 of them for pricing (2 runs used annual payments and were left out of pricing). 17 carriers were quoted. On we checked the tables against 7 new survey runs (4 client scenarios, prepared September 18 to 29, 2026). 11 runs were received and 4 were not used (4 runs were for a 41-year-old, well below our table ages; two of them were at $5,000,000). We repriced 1 of the 8 carriers we publish (Athene, up about 1.8%) and held the other 7 at their earlier figures. A repriced carrier has its whole table moved by its own measured change on quotes for the same age and sex. New York Life: readings were mixed, so we held its figures until the next round. Two direct comparisons with mid-September quotes came in 0.7% and 1.6% higher once premium size is allowed for. A third, measured through August, came in 0.6% lower. How each figure is built. Men: 60, 65 and 80 read at surveyed ages; 55, 70 and 75 interpolated between surveyed ages. Women: all ages derived by ratio. Joint: 55, 60, 75 and 80 derived by ratio; 65 and 70 calibrated to a direct same-age joint quote. None of the figures in our tables is a direct quote from the latest survey round. They are built from earlier rounds (read at surveyed ages, interpolated or derived from carrier ratios) and checked carrier by carrier against the latest one. Joint figures at ages 65 and 70 are calibrated to a direct joint quote (same-age joint quote, both spouses 66, 100% to the survivor, 5-year period certain, prepared September 18, 2026). That corrects an estimate. It is not a market move. Basis: single life or joint (100% to survivor), 5-year period certain, income starting next month, per $100,000. Full method and known limits. Free to cite with attribution to LifeAnnuities.us.
