Female SPIA Rates, October 2026

Why Female Annuity Rates Are Lower Than Male Rates

Women receive lower monthly annuity payments than men of the same age. In our October 2026 tables, the best women's figure is 2% to 6% below the best men's figure across ages 55 to 80. This isn't discrimination; it's actuarial math. Women live longer on average, so the insurance company expects to make more payments over a longer period. Each individual payment is smaller, but the total amount paid out over a lifetime is often higher.

A 65-year-old woman has an average life expectancy of about 87, compared to about 84 for a man. Those extra three years of payments are reflected in the monthly rate.

Why Annuities Are Especially Valuable for Women

Paradoxically, the same longevity that lowers monthly rates makes annuities more valuable for women:

• Longevity risk is real. Women are more likely to outlive their savings. An annuity eliminates that risk entirely — payments continue no matter how long you live.
• Longer retirement to fund. A woman retiring at 65 may need income for 25-30 years. An annuity guarantees that income for the entire period.
• Widowhood planning. Women are statistically more likely to be widowed. An annuity provides independent income that doesn't depend on a spouse's pension or investments.
• Social Security gap. Women often have lower Social Security benefits due to career interruptions for caregiving. An annuity can fill that gap.

How Age Affects Female Annuity Rates

• Ages 55 to 60: Payments are the lowest because the carrier expects to pay for 30 years or more. The best figures in the table above are $602 a month at 55 and $634 at 60, per $100,000.
• Ages 60 to 65: The years around retirement. The best figure rises from $634 at 60 to $658 at 65.
• Ages 65 to 70: Payments climb further. In the table above, the best figure at 70 ($724) is 14% higher than the best figure at 60 ($634) for the same premium.
• Ages 75 to 80: The highest monthly payments. The best figure at 80 is $986 a month per $100,000.

Keep in mind how these figures are built. All women's figures are derived from each carrier's own ratio to its men's quote at surveyed ages, then repriced. None of them is a direct quote, so use them to compare carriers and ages, then ask for a quote at your exact age.

Strategies to Maximize Your Female Annuity Rate

1. Compare several carriers. At age 65, the best of the 8 carriers in the table above shows $658 a month and the lowest shows $541 on the same $100,000 with the same guarantee. The lowest shows about 18% less than the best, for life. Don't settle for the first quote you receive.
2. Consider a ladder strategy. Instead of buying one large annuity, purchase smaller annuities over several years (e.g., at ages 62, 65, and 68). This captures rate increases from aging and potentially higher interest rates.
3. Evaluate payout options carefully. The table above is single life with a 5-year period certain, which means that if you die within the first 5 years, the remaining payments in that period go to your beneficiaries. A life-only contract pays more per month, and a longer guarantee pays less.
4. Don't annuitize everything. Keep liquid reserves for emergencies and unexpected expenses. A common approach is to annuitize enough to cover fixed expenses, keeping the rest invested.
5. Factor in other income sources. If you'll receive Social Security, a pension, or other guaranteed income, you may need less from an annuity than you think.

Comparing Female, Male, and Joint Rates

• Male rates: the highest monthly payments
• Female rates (this page): 2% to 6% below the best male figures in the current tables, paid over a longer average lifetime
• Joint rates: covers both spouses, with a lower monthly payment but income that continues to the survivor

If you're married, compare your options: a single female annuity pays more per month, but a joint annuity ensures your spouse is covered too.

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 October 1, 2026 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.