To give you a clearer picture of how much income a $750,000 annuity might provide, the charts below outline sample monthly payouts and annual payout percentages for lifetime income annuities by age and payout type.
Your actual income will vary based on factors such as your age, gender, and whether you choose a single-life or joint-life option. Still, these examples offer a realistic benchmark to help you understand what you might receive.
Monthly Payouts for $750,000 Immediate Lifetime Annuity
| Age | Male | Female | Joint Life |
| 60 | $4,496 | $4,370 | $4,031 |
| 65 | $4,900 | $4,718 | $4,287 |
| 70 | $5,507 | $5,239 | $4,662 |
| 75 | $6,451 | $6,013 | $5,197 |
| 80 | $7,896 | $7,254 | $6,053 |
The chart illustrates the monthly income a $750,000 immediate annuity could provide, depending on your age and payout type. It assumes payments start right away and continue for life, with examples for male, female, and joint-life annuitants.
- Single Life — Payments last for as long as the annuitant lives.
- Joint Life — Payments continue until both spouses (of the same age) have passed.
Generally, older buyers receive higher monthly income because payments are projected to last for fewer years. Men often receive slightly more than women due to shorter life expectancy, while joint-life payouts are lower to account for the longer combined lifespan of two people.
Annual Percentage* Payouts for $750,000 Immediate Lifetime Annuity
| Age | Male | Female | Joint Life |
| 60 | 7.20% | 7.00% | 6.46% |
| 65 | 7.84% | 7.56% | 6.87% |
| 70 | 8.81% | 8.39% | 7.47% |
| 75 | 10.32% | 9.63% | 8.32% |
| 80 | 12.61% | 11.58% | 9.67% |
The chart above shows the annual payout rates for a $750,000 guaranteed lifetime annuity. A payout rate reflects the percentage of your original premium you’ll receive each year — combining both principal and interest — and is not the same as an interest rate.
For example, a 75-year-old man would receive 10.32% annually from a $750,000 annuity, which is about $6,451 per month. Older buyers see higher payout percentages because payments are expected to last for fewer years, while joint life annuities pay less to cover the longer combined lifespan of two people.
Payout rates are a useful way to compare annuity options when you’re shopping for income you can’t outlive.
What a $750,000 Annuity Looks Like in Practice
Numbers alone don’t tell the whole story — the real value of an annuity comes to life when you see how it works for people in different situations. Factors like your age, retirement priorities, and payout structure can make a big difference in the income you receive.
The examples below walk through realistic retirement scenarios, showing how the same type of annuity can produce very different results. Use them to imagine how an annuity could support your own goals, whether you want steady income right away, protection for a spouse, or a safety net you can’t outlive.
Meet Grace — Ensuring Steady Income Throughout Retirement
Name: Grace
Age: 65
Looking to invest: $750,000
- Grace wants guaranteed income she can’t outlive
- She purchases an immediate annuity with a single life payout
Monthly payout: $4,718
Grace invests $750,000 in an immediate single-life annuity, providing her with $4,718 per month — about $56,616 a year — for as long as she lives.
Why She Chose a Single-Life Annuity
Grace’s priority is to maximize her monthly income, so she opts for a single-life annuity without a period certain or death benefit. This means her payments will stop when she passes away, and no remaining funds will go to her beneficiaries. While this choice offers the highest possible monthly payout, it also means forgoing legacy benefits in exchange for more income now.
Why This Works for Grace:
- Guaranteed monthly payments for life.
- Higher income than options with joint or guaranteed period payouts.
- Protection against the risk of outliving her savings.
- Simplified retirement planning with no market exposure.
I wanted to know I’ll have a steady income every month so I can focus on enjoying retirement, not worrying about running out of money – Grace
Bottom Line: Grace’s estimated monthly income from her annuity is about $4,718 — guaranteed for life. The higher payout ensures her essential expenses are covered and gives her financial peace of mind.
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Meet Ed — Increasing Income by Purchasing Later in Life
Name: Ed
Age: 70
Looking to invest: $750,000
- Ed wants a guaranteed income stream for life
- He purchases an immediate annuity with a lifetime payment
Monthly payout: $5,507
Ed invests $750,000 in an immediate single-life annuity, which pays him $5,507 per month — about $66,084 a year — for as long as he lives. His monthly income is noticeably higher than Grace’s, even though they purchased the same type of annuity for the same amount.
Why His Payout Is Higher
Two factors drive Ed’s higher payments: age and gender. At 70, he is expected to receive payments for fewer years than someone younger, so the monthly amount is larger. Men also generally have shorter life expectancies than women, which increases their payout rates compared to women of the same age. For example, a 70-year-old woman investing the same $750,000 would receive about $5,239 per month.
Why This Works for Ed:
- Higher monthly income thanks to shorter expected payout period.
- Guaranteed lifetime payments that won’t change with market fluctuations.
- No need to manage investments during retirement.
- Maximizes available income during his active retirement years.
I wanted more income now to make the most of these years while I’m healthy and active. – Ed
Bottom Line: Ed’s estimated monthly income from his annuity is about $5,507 — guaranteed for life. While it won’t provide a legacy for heirs, it offers him more income each month to enjoy his retirement with confidence.
Meet Sam and Jackie — Securing Lifetime Income for Two
Names: Sam and Jackie
Ages: 65 and 68
Looking to invest: $750,000
- Sam and Jackie want to ensure that neither of them outlives their retirement savings
- They purchase a joint life annuity that guarantees payments for both of their lifetimes
Monthly payout: $4,283
Sam and Jackie invest $750,000 in an immediate joint-and-survivor annuity, which pays them $4,283 per month — about $51,396 a year — for as long as either of them is alive.
Why Their Payout Is Lower
Joint-life annuities are designed to provide income until the second person passes away, which means the insurance company expects to make payments for a longer period than it would with a single-life annuity. Because of this longer combined life expectancy, monthly payouts are lower than what one person would receive for the same premium.
Why This Works for Sam and Jackie:
- Guaranteed income for both spouses for life.
- Peace of mind knowing the surviving partner will continue receiving income.
- Protects against one spouse outliving their shared savings.
- Stable, predictable income that doesn’t depend on market performance.
We wanted to make sure that whichever of us lives longer will always have income coming in. – Sam and Jackie
Bottom Line: Sam and Jackie’s estimated monthly income from their annuity is about $4,283 — guaranteed to last for both of their lifetimes. While the monthly amount is lower than a single-life payout, the security of lifelong income for both partners makes this the right choice for their needs.
Today’s Best Fixed Annuity Rates by Term
| Term | Rate | Provider | Product | AM Best Rating |
|---|---|---|---|---|
| 1 Year | 6.74% | Corebridge Financial | American Pathway Fixed 7 Annuity | A |
| 2 Years | 5.50% | Axonic Insurance Services | Skyline MYGA | A- |
| 3 Years | 6.10% | Wichita National Life Insurance | Security 3 MYGA | B+ |
| 4 Years | 5.30% | Americo Financial Life and Annuity Insurance Company | Platinum Assure | A |
| 5 Years | 6.45% | Atlantic Coast Life | Safe Harbor Bonus Guarantee | B+ |
| 6 Years | 6.67% | Atlantic Coast Life | Safe Harbor Bonus Guarantee | B+ |
| 7 Years | 6.90% | Atlantic Coast Life | Safe Harbor Bonus Guarantee | B+ |
| 8 Years | 5.65% | EquiTrust Life Insurance Company | Certainty Select | B++ |
| 9 Years | 5.35% | Clear Spring Life and Annuity Company | Preserve Multi-Year Guaranteed Annuity | A- |
| 10 Years | 7.65% | Atlantic Coast Life | Safe Harbor Bonus Guarantee | B+ |
Find the Best Rates in Your State
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Factors Impacting How Much a $750,000 Annuity Pays Per Month
Annuity providers calculate payouts differently for every annuity contract. As the case studies above show, many variables can influence the monthly payout of a $750,000 annuity.
- Annuitant’s life expectancy: For lifetime payout annuities, the annuitant’s life expectancy has a huge impact on the payments they receive. The lower someone’s life expectancy is, the higher their payments will be. This is why younger people and women tend to have the lowest monthly payment amounts.
- Payout period: The longer an insurance company expects to pay out an annuity, the lower the payments will be. An annuity that only pays out for a set number of years might have higher monthly payments than a single life annuity, and a single life annuity will have higher monthly payments than a joint life annuity.
- Type of annuity: Immediate annuities have the most straightforward payment calculations, but many other types of annuities – including fixed, fixed index and variable annuities – accumulate value for a number of years before converting to an income stream. Payouts can be harder to predict for these types of annuities because the contract value that gets turned into payments will likely differ from the initial premium amount.
- Riders: Annuity buyers can customize their contracts with riders at an additional cost. Some riders can influence the monthly payouts, such as a living benefit rider on a variable annuity or a cost of living adjustment rider that offsets the effects of inflation.
Leveraging higher payout rates from income annuities with traditional withdrawal strategies can boost retirement satisfaction. Guaranteed income reduces anxiety from market volatility and gives retirees ‘permission to spend.’ Higher interest rates have led to better payouts, with returns in the high single digits a gift for investors in their 60s or 70s needing stable income.
Stephen Kates, CFP®Principal Financial Analyst for Annuity.orgStephen Kates, CFP® is a personal finance expert specializing in financial planning and education. He serves as the Principal Financial Analyst for Annuity.org, where he delves into industry trends to support consumers and financial advisors on wealth management, annuities, retirement planning, and investing.
