Verified August 18, 2026 · Sources linked · Free to cite

Annuity Statistics 2026

The numbers behind the annuity market, income-annuity payouts, who buys, and the rules — each with a link to the primary source. Cite freely with attribution to LifeAnnuities.us.

Key numbers at a glance

  • $464.1 billion — record U.S. annuity sales in 2025 (+7%); Q2 2026 set a quarterly record of $123.9 billion.
  • $14.4 billion — SPIA sales in 2025 (+6%); Q2 2026 SPIA sales a record $4.0 billion.
  • $675/month — what $100,000 buys a 65-year-old man for life in August 2026 (woman $637; couple $587).
  • ~72 — average age of a SPIA buyer; average premium about $150,000.
  • 24% / 35% — chance a 65-year-old man / woman lives to 90.
  • $2,071 — average monthly Social Security retirement benefit in 2026; it's a major income source for 62% of retirees.
  • 1.71% — FDIC national average 12-month CD rate vs. an ~8.1% SPIA payout rate at 65 (not like-for-like: the SPIA payout includes return of principal and mortality credits).

What an immediate annuity pays (2026)

Guaranteed lifetime income per $100,000 of premium — the number a SPIA buyer actually cares about.

  1. August 2026: a $100,000 immediate annuity pays a 65-year-old man up to $675/month for life, a woman $637, and a couple $587 with 100% to the survivor (single life or joint, 5-year period certain, best of 8 A-rated carriers). At 70 a man gets up to $751; at 75, $873.

    Source: LifeAnnuities.us SPIA Payout Index · August 2026

  2. The best 65-year-old male payout has risen 9.2% since March 2026 ($618 → $675); the annual payout rate at 65 is about 8.1% of premium. The best-to-lowest spread across A-rated carriers on identical contracts is about 15%.

    Source: LifeAnnuities.us SPIA Payout Index · August 2026

  3. CANNEX PAY Index (July 29, 2026): lifetime payout yield 8.45% for a single-life male age 70, 7.30% for a single-life female 65, 6.82% joint M70/F65 — on average $100,000 buys about $626/month (7.52%).

    Source: CANNEX PAY Index (USA) · Jul 29, 2026

  4. SPIA payouts are up roughly 38% from the 2020 low: the CANNEX index averaged $455/month per $100,000 (5.47%) in August 2020, $598 (7.18%) in July 2023, $603 (7.24%) in December 2024 and $626 (7.52%) in July 2026.

    Source: CANNEX PAY Index editions · Jul 2026

  5. Blueprint Income marketplace (August 2026): a life-only $100,000 immediate annuity at 65 pays up to $651/month for a man and $625 for a woman (about 7.8% and 7.5% annual payout rates).

    Source: Blueprint Income – Immediate Annuity Quotes · Aug 2026

  6. ImmediateAnnuities.com survey (Feb 4, 2026): $100,000 life-only at 65 — best male quote $685/month (average $622); best female $638 (average $597). At 70: best male $778, best female $711.

    Source: ImmediateAnnuities.com – Annuity Payout Rates by Age · Feb 2026

  7. Annuity.org $100,000 table (April 2026 quotes): age 65 male $625/month, female $590, joint $536; age 70 male $750, female $703, joint $620.

    Source: Annuity.org · Apr 2026

  8. Shopping around matters: in CANNEX research the best life-only SPIA quote for a 65-year-old man was 31% higher than the worst on the same day (Sept 2022), and the best-vs-worst spread averaged ~10% over 2013–2022, peaking at 33.7% in July 2022 as rates rose.

    Source: CANNEX – Historical Pricing Variability in Immediate and Deferred Income Annuities (Blanchett) · Nov 2022

  9. Life-only SPIA payout rates for a 65-year-old man ranged from a low of 5.53% (August 2020) to a high of 6.87% (September 2013) across 2013–2022 — payouts track long-term bond yields.

    Source: CANNEX (Blanchett), 2022 · 2022

  10. SPIA commissions are a one-time 1%–5% of premium built into the payout (no separate fees) — typically about 3% on a life annuity for a 65-year-old and 1% or less on short period-certain contracts.

    Source: ImmediateAnnuities.com – Annuity Commissions · Feb 2026

  11. Typical minimum premium is $10,000 (Fidelity's immediate fixed income annuity platform; New York Life single premium annuities start "as little as $10,000"); some carriers require $20,000–$25,000.

    Source: Fidelity; New York Life · Aug 2026

  12. Mortality credits: in a pooled lifetime-income arrangement, the payment above the pure bond return is funded by premiums from members who died, redistributed to survivors — the reason an income annuity can pay more than a bond ladder for life.

    Source: Society of Actuaries – Annuities Versus Tontines in the 21st Century (Milevsky et al.) · 2018

Annuity market size & sales

  1. Total U.S. retail annuity sales reached a record $464.1 billion in 2025, up 7% — the fourth consecutive record year. Fourth-quarter 2025 sales were $117.2 billion (+14%), the ninth straight quarter above $100 billion.

    Source: LIMRA U.S. Individual Annuity Sales Survey · FY 2025 (Mar 23, 2026)

  2. Second-quarter 2026 sales set an all-time quarterly record of $123.9 billion (+4%), the 11th consecutive $100B+ quarter; first-half 2026 sales were a record $231.3 billion (+2%). First-quarter 2026: $107.4 billion (+1%).

    Source: LIMRA, reported by InsuranceNewsNet / InvestmentNews; LIMRA Q1 release · Q2 2026 (preliminary)

  3. Annuity sales roughly doubled in a decade: about $236 billion in 2015, $385 billion in 2023, $434.9 billion in 2024 (revised) and $464.1 billion in 2025. LIMRA forecasts 2026 sales to stay above $450 billion despite expected rate cuts.

    Source: LIMRA sales estimates & 2026 outlook · 2026

  4. Single premium immediate annuity (SPIA) sales were $14.4 billion in 2025 (+6%); Q4 2025 SPIA sales jumped 23% to $3.9 billion. 2024 SPIA sales were $13.6 billion.

    Source: LIMRA · FY 2025

  5. SPIA sales hit a quarterly record of $4.0 billion in Q2 2026 (+12% year over year, +9% from Q1); Q1 2026 SPIA sales were $3.7 billion (+22%). Deferred income annuity (DIA) sales were $1.3 billion in Q2 2026 and $4.8 billion for full-year 2025.

    Source: LIMRA (Q1 release; Q2 via trade press) · Q2 2026

  6. By product, 2025: fixed indexed annuities $127.9 billion (record, +1%), fixed-rate deferred (MYGA-type) $165.3 billion (+6%), registered index-linked (RILA) $79.5 billion (record, +20%, 11th straight year of growth), traditional variable $63.1 billion (+8%). Indexed products were 45% of sales, up from 24% a decade earlier.

    Source: LIMRA · FY 2025

  7. Top payout (income) annuity writers in 2025: New York Life $7.09 billion, MetLife $2.80 billion, Guardian $2.58 billion, Pacific Life $1.96 billion, USAA $1.90 billion; the top 20 wrote 91% of the $28.3 billion payout-annuity market (immediate + deferred income).

    Source: LIMRA 2025 Year-End Rankings – Fixed Annuity Sales Breakout · FY 2025

  8. Largest total annuity writers in 2025: Athene $34.5 billion, New York Life $30.6 billion, Corebridge $26.8 billion, Equitable $23.2 billion, Jackson $22.7 billion; the top 20 carriers hold 73% of the market.

    Source: LIMRA 2025 Year-End Rankings · FY 2025

  9. The U.S. life insurance industry — the companies that issue annuities — comprised 711 companies in 2024. Annuity considerations reported to regulators rose 18.8% to $456 billion, annuity reserves reached $4.5 trillion, and insurers paid a record $110 billion in annuity benefits.

    Source: ACLI Life Insurers Fact Book 2025 · 2024 data (Nov 2025)

  10. "Peak 65": about 4.1 million Americans turn 65 each year, many without a pension — the demographic driver LIMRA cites for record income-annuity demand.

    Source: LIMRA (Bryan Hodgens), March 2026 release · 2026

Who buys annuities

  1. The average SPIA buyer is about 72 years old and pays an average premium of roughly $148,000–$150,000 — the highest initial investment of any annuity type. Buyers over 62 tend to purchase annuities designed to create guaranteed income.

    Source: LIMRA Secure Retirement Institute (buyer studies, 2016–2017) · 2015–2016 data

  2. Almost 62% of single-life SPIAs are sold to women, and 52% of SPIAs are funded with non-qualified (after-tax) savings.

    Source: LIMRA SRI – Creating Guaranteed Lifetime Income · 2016 study

  3. 84% of workers in a workplace plan are interested in a guaranteed monthly income product bought with retirement savings, and two-thirds are interested in a "bridge" annuity to delay Social Security to 70 — yet only 36% of retirees report owning a product that guarantees monthly income for life.

    Source: EBRI/Greenwald 2026 Retirement Confidence Survey · Apr 2026

  4. Only 57% of workers believe their savings will last their lifetime; retirees who feel they will have enough to last fell to 69% (from 74% in 2025). Overall retirement confidence: 61% of workers, 73% of retirees.

    Source: EBRI/Greenwald 2026 Retirement Confidence Survey · Apr 2026

  5. 69% of nonretirees are very or moderately worried about not having enough money in retirement; 45% expect to live comfortably vs. 82% of current retirees who say they do.

    Source: Gallup, May 2026 · Apr 2026 poll

Retirement income, pensions & longevity

  1. Average Social Security benefit for retired workers is $2,071/month after the 2.8% COLA payable January 2026; an aged couple both receiving benefits averages $3,208.

    Source: Social Security Administration – 2026 COLA Fact Sheet · Jan 2026

  2. Social Security is a major source of income for 62% of current retirees (tying the record high); a work pension for 37%; a 401(k)/IRA-type account for 27%.

    Source: Gallup, May 2026 · Apr 2026 poll

  3. Among beneficiaries 65+, 39% of men and 44% of women get half or more of their income from Social Security; 12% of men and 15% of women rely on it for 90% or more.

    Source: Social Security Administration – Fact Sheet · 2025 edition

  4. 52% of adults 65+ and 39% of adults 55–64 have a defined-benefit pension, versus 20% of prime-age adults (25–54); 49% of adults 60+ received pension income in 2025 and 74% received Social Security.

    Source: Federal Reserve – Economic Well-Being of U.S. Households (SHED), May 2026 · Oct 2025 survey

  5. Median retirement-account balance among families that have one: $185,000 for ages 55–64 (57% of families hold an account) and $200,000 for ages 65–74 (51% hold one).

    Source: Federal Reserve – 2022 Survey of Consumer Finances · 2022 SCF

  6. Total U.S. retirement assets were $47.6 trillion at March 31, 2026 (34% of household financial assets): IRAs $18.2 trillion, defined-contribution plans $13.8 trillion (401(k) plans $9.9 trillion), plus $2.6 trillion of annuity reserves outside retirement accounts.

    Source: Investment Company Institute – Quarterly Retirement Market Data · Q1 2026

  7. Life expectancy at 65 (SSA 2023 period life table): 18.1 more years for men and 20.7 for women. CDC/NCHS: 19.7 years in 2024 (20.8 female, 18.4 male).

    Source: SSA Office of the Chief Actuary; CDC/NCHS Data Brief 548 · 2023–2024

  8. Probability a 65-year-old lives to 90: about 24% for men and 35% for women; to 95: about 8% and 14% (SSA 2023 period life table survivor column). This longevity tail is what a lifetime annuity insures.

    Source: SSA Office of the Chief Actuary (computed from table 4C6) · 2023 table

Interest rates & the alternatives (August 2026)

SPIA pricing tracks long-term bond yields; CDs are the usual comparison for safe money.

  1. 10-year Treasury yield 4.72%; 30-year 5.31%; 20-year 5.30%; 5-year 4.38%; 2-year 4.19% (par yield curve, close of Aug 17, 2026).

    Source: U.S. Treasury – Daily Par Yield Curve · Aug 17, 2026

  2. Federal funds target range 3.50%–3.75%, held at the July 29, 2026 FOMC meeting (unchanged since the December 2025 cut).

    Source: Federal Reserve – FOMC statement · Jul 29, 2026

  3. FDIC national average CD rates: 12-month 1.71%, 24-month 1.57%, 36-month 1.34%, 60-month 1.36%; savings accounts 0.38% (deposit-weighted, all insured institutions).

    Source: FDIC – National Rates and Rate Caps · Aug 17, 2026

Tax rules & consumer protections

  1. Required minimum distributions from traditional IRAs and plans begin at age 73; under SECURE 2.0 the age rises to 75 for people born in 1960 or later. The excise tax on a missed RMD is 25%, reduced to 10% if corrected within two years.

    Source: IRS – RMD FAQs; 26 U.S.C. §401(a)(9) · 2026

  2. The 2026 QLAC (qualifying longevity annuity contract) premium limit is $210,000, unchanged from 2025.

    Source: IRS Notice 2025-67 · 2026

  3. A 10% additional federal tax applies to the taxable part of annuity distributions taken before age 59½ unless an exception applies; a Section 1035 exchange lets you swap one annuity for another tax-free.

    Source: IRS Publication 575 (2025) · Tax year 2025

  4. Exclusion ratio: the tax-free share of each non-qualified annuity payment equals your investment in the contract divided by the expected return; once cost is recovered, further payments are fully taxable.

    Source: IRS Publication 939 · Rev. Dec 2025

  5. State guaranty associations typically cover $250,000 in present value of annuity benefits per insolvent insurer (some states higher, e.g. $500,000 in Connecticut, New York, New Jersey and Washington); every state, DC and Puerto Rico has one.

    Source: ACLI – Guaranty Associations · 2026

  6. Only a handful of states levy a premium tax on annuity purchases (non-qualified rates): Nevada 3.5%, California 2.35% (0.5% qualified), Colorado 2%, Maine 2%, South Dakota 1.25% on the first $500,000, West Virginia 1%, Wyoming 1%; Puerto Rico 1%.

    Source: Annuity.org – State Premium Tax (NAIC data) · Dec 2025

How to cite this page

LifeAnnuities.us, "Annuity Statistics 2026" (verified August 18, 2026), https://lifeannuities.us/resources/annuity-statistics/

Every figure links to its source; where we quote our own data (the SPIA Payout Index) the methodology is on the index page. Spot an outdated number? Tell us and we'll fix it and note the change.

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