Annuity Income Calculators
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This is one of the most exciting projects I’ve ever announced. Annuity Straight Talk now has live annuity income calculators with features and details that you won’t be able to find anywhere else online without paying for a subscription. I’m going to take the time now to explain how these work. As I’ve covered before, different products are best for different situations so it takes analysis of a variety of products to make sure you are truly getting what’s best for your situation.
For income starting within one year you will typically get the highest payout with a single premium immediate annuity so we can start there. This is the type of calculator that is widely available online and it doesn’t always tell the whole story so that’s why we have two calculators. What you won’t find without a subscription is a Guaranteed Lifetime Withdrawal Benefit calculator for fixed indexed annuities. In many cases that will produce more income so it’s worth looking at both. I’m going to run you through some scenarios with a hypothetical couple to show you how it all works.
No one else online has complete options like we do now. Last year I met a guy who was only being pitched GLWB contracts for immediate income. I save him more than 15% on the purchase price by finding him a SPIA instead. Another couple had only been shown SPIAs for immediate income when in fact a GLWB paid almost 10% more income. I sold both because I had a more complete list of options in each case.
The SPIA calculator is the first stop and an assumption that income needs to start right away. Our hypothetical couple, John and Jane Doe, are ages 65 and 62 respectively. With a premium of $250K it shows that Guardian Life offers the highest payout of $16,810 annually. We chose to give you the simplest output with life only payments. That means this is a quote with no remainder. Most people can add a remainder option without affecting the income payout by much so this will get you inside the ballpark and it can be fine-tuned before you commit to a purchase. You may notice that all of the top SPIA payouts are offered by the absolute strongest insurance companies available. This can be a major deciding factor for many people.
Get Live, Real, Annual Income Quotes From The Top Immediate Annuities
But let’s take the same couple to the GLWB calculator to see if we can improve the immediate payout. With the exact same inputs, we can see that Delaware Life has a higher immediate income at $17,375 annually. Plus the GLWB comes with residual cash value so some form of remainder is available to heirs with this type of product. Delaware Life has a stable A rating so it’s just fine but not as strong as companies like New York Life and Guardian.
You also need to know that the GLWB calculator is something that we built while the SPIA calculator runs off a database. The GLWB calculator shows the available products that I am willing to recommend or sell and we eliminated any companies with a rating of A- or lower. This is a good representation of the best options available on the market but we also verify these numbers directly from the companies before you make a commitment to buy it. This is going to get you to the top of the market and you don’t have to meet with a dozen advisors to find it, or sift through the BS at another dinner seminar.
Let’s not forget that a GLWB is most powerful when deferred for a few years and this is how most people use them. Let’s use the same couple and see what type of payout is available with a five year deferral. That little change increases the annual payout to $26,362 and it’s American General with the top quote. Before you assume that’s the highest payout, let’s go back to the SPIA calculator and run a deferred quote, which would make the product a Deferred Income Annuity (DIA).
Guardian Life again comes with the top quote but it’s nearly $3000 per year less so there’s a bigger tradeoff for taking the stronger company. If you want deferred income, a GLWB will most likely deliver the best option by a fairly wide margin. Now, GLWB contracts typically offer higher income payouts for each contract year that passes before income is taken. The calculator shows an exact number of years that have passed and can’t account for increases that may apply during a contract year. This is why you need an expert who understands all the options. Once you have a general idea of how it works then you need to make an appointment to verify everything and analyze your exact situation.
I’m excited about this new development and you should be as well. It will be easier for you to verify the correct path in retirement so get started now!
Bryan
Watch Podcast Episode #177: Annuity Income Calculators on AnnuityStraightTalk.com
Download Episode 174: Annuity Income Calculators on Apple Podcast
Last Updated on May 16, 2025 by Bryan Anderson
