SPIA Payout Index
What $100,000 buys in guaranteed monthly income for life, tracked every month from real carrier quotes. August 2026: $675/month for a 65-year-old man — now sourced from actual quote surveys, +9.2% since March 2026.
Index value · man, age 65
$675/mo per $100,000
≈ 8.1% of premium paid out per year, for life
Woman, 65
$637/mo
Couple, 65 (100% to survivor)
$587/mo
Man, 70 / 75
$751 / $873/mo
| Month | Man 65 | Woman 65 | Couple 65 | Man 70 | Man 75 |
|---|---|---|---|---|---|
| March 2026 | $618 | $585 | $542 | $698 | $808 |
| May 2026 | $632 | $598 | $555 | $712 | $825 |
| July 2026 | $664 | $635 | $583 | $754 | $882 |
| August 2026 | $675 | $637 | $587 | $751 | $873 |
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LifeAnnuities.us SPIA Payout Index, August 2026: a $100,000 immediate annuity pays a 65-year-old man up to $675/month for life (single life, 5-year period certain), $637/month for a woman, $587/month for a couple with 100% survivor benefit. https://lifeannuities.us/rates/spia-payout-index/
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<a href="https://lifeannuities.us/rates/spia-payout-index/" title="SPIA Payout Index — LifeAnnuities.us"><img src="https://lifeannuities.us/embed/spia-payout-index.svg" alt="SPIA Payout Index: best monthly income per $100,000 immediate annuity, August 2026 — LifeAnnuities.us" width="720" height="380" style="max-width:100%;height:auto;border:1px solid #e5e9ee;border-radius:8px" loading="lazy"></a> <p style="font-size:12px;color:#5b6976">Source: <a href="https://lifeannuities.us/rates/spia-payout-index/">SPIA Payout Index</a>, LifeAnnuities.us — updated monthly.</p>
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Methodology
- What it measures: the highest monthly income quoted per $100,000 single premium for a 65-year-old (and ages 70/75 for men) among 8 US insurers rated A or better by AM Best: New York Life, Nationwide, Western & Southern, Athene, Penn Mutual, Pacific Life, Mutual of Omaha, Lincoln Financial.
- Contract basis: single life (joint = 100% to survivor, both spouses the same age), 5-year period certain, income starting one month after purchase, non-qualified funds. Life-only quotes pay slightly more; cash-refund options slightly less.
- Source: multi-carrier income annuity quote surveys run each month for real clients (37 surveys across 17 carriers in the August 2026 cycle), read directly at surveyed ages and interpolated with each carrier's own male/female and single/joint ratios where needed.
- Cadence: refreshed the first week of every month; history is never revised. When the data basis changes we say so in the table.
- Best-to-lowest spread: in the August 2026 survey the gap between the best and lowest quote on identical contracts at age 65 was about 15% — the reason comparing carriers matters more than timing the market.
Questions about the data or a custom cut (other ages, premiums, payout options): contact us — Phil Barker, annuity specialist, (800) 747-4201.
Explore the underlying rates
- Best SPIA rates by age and the full male, female and joint carrier tables
- What a specific premium pays: $100,000 · $250,000 · $500,000
- Payout options (life only, period certain, cash refund) and joint & survivor choices
- Rates by age: 55 · 60 · 65 · 70 · 75 · 80
