Advanced Annuity Calculator

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  • Enter only one of the following:

  • Optional: For a 2-person annuity (joint lives)

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This is an advanced annuity calculator. With it you can calculate either:

(a) how much monthly income you'll receive from an Investment amount you enter, or,

(b) how much you'll need to invest in order to receive the Monthly Income amount you enter.

To start, select your Age, Gender, State of Residence, and Income Start Date.

If you'd like a calculation covering yourself and a spouse, select your spouse's age and gender too.

Next, enter a dollar amount in only one of the two boxes labeled Investment or Monthly Income. Then click Calculate. Your quote appears instantly on the next page.

If you have any questions about your quotes or annuities in general call 800-872-6684.

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Comments (26)

  1. Michael
    2015-06-04 11:35:27

    Thanks Hersh. Is there an advantage to selecting the Joint Plan with cash refund to your heirs instead of buying a single life for a married man and leave the refund to his wife?

  2. Hersh Stern (
    2015-06-04 11:36:43

    Hi Michael,

    Good to hear from you again.

    You asked about the advantage of selecting a joint plan with cash refund to beneficiaries versus a single life annuity for a married man with cash refund to his wife...

    The big difference is that the joint annuity would continue to make payments for as long as your wife was living. The single annuity for yourself does not make payments to your wife other than the lump sum on your death (if you died before $400k had been returned to you.)

    The advantage of the single life annuity is that for as long as you're living you will receive a higher monthly amount than you would have been paid from a joint annuity which covered your wife, too.

    For comparison purposes I calculated the difference to be almost $300 per month:

    Single life (male) with cash refund: $2,271 (Guardian Life)

    Joint life (male + female) with cash refund: $1,977 (Nat'l Integrity)

    Take care and call me if you have more questions.


  3. Tom
    2015-10-19 09:33:39

    If I purchase an immediate fixed indexed annuity and I die in a few years, what happens to the remaining principle?

  4. Hersh Stern (
    2015-10-19 09:34:49

    Hi Tom,

    Your question combines two different types of annuities which do not exist in combination. So I'll separate them into their distinct categories:

    If you own a FIXED INDEXED annuity, which is a type of DEFERRED (not immediate) annuity, on your death the account value goes to your beneficiaries.

    If you own an IMMEDIATE annuity (that's not an INDEXED annuity), then if you originally purchased a Cash or Installment Refund option, the remainder of the original premium not paid out to you would be paid to your beneficiaries.

    PS - I'm assuming your use of the word INDEXED was not a reference to a CPI Index or cost of living adjustment.


  5. Michael
    2018-07-18 08:22:06

    You sent me quotes for a $400k joint annuity. What survivor benefits apply to these quotes?

  6. Hersh Stern (
    2018-07-18 08:22:35

    Hi Michael,

    The survivor benefits in the quotes I sent you included the following provisions:

    1. Monthly income of $1,977 will be paid to you and your wife for as long as either of you is living. This means that after the first one passes away, UNREDUCED payments will continue to the surviving spouse.

    2. The cash refund feature in your quotes add the guarantee that should both you and your wife die untimely before the insurance company had paid your full $400,000 premium, the company would then send checks to your beneficiaries in the amount of the difference between $400k and how much total income you both had received while living.

    For example, say you both died (at once or sequentially) and only $300k had been paid to you. The insurance company would pay the $100k balance to your beneficiaries.

    3. Of course, if one or both of you are living even after $400k had been paid to you, the company would continue to pay you $1,977 for as long as one of you was living. Payments only stop after the second person ("survivor") had died and after a minimum of $400k had been paid to you and/or your beneficiaries.


  7. Michael
    2019-04-18 11:18:53

    I am a 67 year old and my wife is 63. We are considering purchasing a non qualified immediate annuity with a pay in of $250,000 to $300,000. I have read pros and cons of building in a 3% annual increase (or a CPI increase) with some authors writing that the cost does not justify the benefit under either scenario.

    We have other assets. This annuity would add some certainty to our income stream.

    Any advice is appreciated.

  8. Hersh Stern (
    2019-04-18 11:19:12

    Because cost of living adjustments (COLAs) reduce immediate annuity payments so much on the front-end, most of our clients decide not to include them. Having a COLA on your immediate annuity makes it so you have to live beyond your life expectancy to break even. That being said, we still have a number of clients who include COLAs because they believe they will live beyond their life expectancy (based on their personal health and family history).

    As an alternative to purchasing an immediate annuity with a COLA, you can also stagger (or ladder) your purchases. In other words, you can purchase additional immediate annuities down the road, as needed, to cover increases to your living expenses. This method is especially beneficial if interest rates are also increasing during your laddering period.


  9. Keith
    2019-09-23 08:38:38

    I want to know how much I need to bring home 1700.00 a month. And at what age. I'm retiring at January 12 2020. At the age of 56.

  10. Hersh Stern (
    2019-09-23 08:39:57

    Hi Keith,

    There are are a few extra factors needed to know what the amount would be. For instance, I would need to know what your current date of birth is, what state you reside in, and the source of funds for the annuity.

    You can use the above calculator to determine what the cost would be by inputting that information and clicking "Calculate".


  11. charles C.
    2022-01-30 13:16:46

    when you take payments from your annuities, is it taxable by the IRS?

  12. Kyle (
    2022-01-31 12:05:13

    Hi Charles,

    That would depend on the type of funds being used to purchase your annuity.

    For example, if you are purchasing your annuity with a Roth IRA, then the payments will be tax-free. Vice versa, if you are using a Traditional IRA, the payments will be fully taxable.

    Lastly, if you are using regular cash to purchase your annuity, then only the interest will be taxable.

    - Kyle

  13. Dennis
    2022-09-10 15:31:04

    When I request a quote, and indicate that the source of the funds is an IRA or a pension plan even though I list the investment as 500k, the results that are returned are for 145k.
    Is there some sort of limit on the investment in annuity us a qualified retirement account?

  14. Kyle
    2022-09-13 13:11:25

    Hi Dennis,

    Thank you for reaching out!

    This is likely happening because you are delaying your payments beyond the RMD starting age (which is currently 72). If you are delaying your payments beyond the age of 72, the annuity becomes a Qualified Longevity Annuity Contract (QLAC) and has very specific rules. You can read more about them here:

    In order to be able to use your full $500k, the annuity payments would need to begin by your 72nd birthday. If you run a quote using that scenario, you should receive a full list of quotes on a $500k premium amount.

    Please let us know if there's anything else we can do to help!

    - Kyle

  15. Don D.
    2022-10-24 11:08:11

    Can you get an immediate annuity with a payout over
    4 years?

    Thank you

  16. Kyle
    2022-10-24 14:37:30

    Hi Don,

    Yes. Both Nationwide and Kansas City Life offer "4 Year Period Certain" immediate annuities.

    - Kyle

  17. Antonio
    2023-03-30 14:24:03

    For an immediate annuity--Life with cash refund, how much of the monthly payment (assuming that is what is elected) consists of interest and how much principal? thanks

  18. Kyle
    2023-03-31 14:11:14

    Hi Antonio,

    Thank you for reaching out.

    This will vary depending on the age of the buyer, and interest rates at the time of purchase. However, when you run quote comparisons through our website, your quote report will show how much of each payment is taxable. I would recommend using our calculator to get an accurate representation.

    Best regards,


  19. John B.
    2023-04-22 17:55:08

    My wife and I are looking at Joint 100% Life Income w/ 10 Year Guaranteed annuities. We would like to fund this by rolling over Roth IRA dollars. Since the annuity will be a joint annuity, is it possible to fund it with Roth IRA dollars in both our names. Our target is a $100,000 annutity -- ideally my wife's Roth IRA would contribute about $85k and my Roth IRA would contribure about $15k. Is this sort of structure allowable? Thanks -- John B

  20. Kyle
    2023-04-24 11:59:34

    Hi John,

    Thank you for reaching out!

    Unfortunately, you cannot combine your Roth IRA and your wife's Roth IRA in the same annuity. You would have to purchase two separate annuities - one with each of your Roth IRAs. In the end, the income produced between the two should be the same as if you purchased one annuity.

    If you have additional questions, please give us a call on our toll-free number, (800) 872-6684. We'll be very happy to help.

    Best regards,

  21. Ken S.
    2023-09-26 15:48:26

    If I buy an annuity from savings that has an 10% payout rate, how do I translate into how much of the monthly payout is taxable and how much is return of premium

  22. Kyle
    2023-09-27 07:46:01

    Hi Ken,

    Thank you for reaching out!

    When you run a quote comparison using our calculator, just select "Savings" as the source of funds. The annuity report you receive will tell you exactly how much is taxable in each monthly payment.

    If you have additional questions, please give us a call on our toll-free number, (800) 872-6684. We'll be very happy to help.

    Best regards,

  23. John
    2024-01-03 19:54:14

    Is it possible to purchase a 20-year period certain (not life) immediate annuity before age 59.5 (i.e. at age 58?) Or does it have to be a life term to avoid being penalized with the IRS 10% penalty?

  24. Kyle
    2024-01-05 07:59:57

    Hi John,

    Thank you for reaching out!

    The answer actually depends on the type of funds being used. If you're purchasing the annuity with after-tax dollars (checking/savings) then there is no tax penalty. However, if you're using pre-tax dollars (like a Traditional IRA or 401k) then the 10% penalty would apply to any payments received prior to age 59 1/2.

    Please let us know if you have any additional questions!

    Best regards,

  25. Bob Y.
    2024-02-14 11:45:54

    I see the calculator numbers .. how and where can I buy the actual product/annuity? e.g., immediate annuity

  26. Kyle
    2024-02-15 08:49:24

    Hi Bob,

    When you're ready to purchase your annuity, just give us a call on our toll-free number, (800) 872-6684.

    We'll get you started with your annuity application.

    Best regards,