Annuity payout calculator.
Three calculations that use exact math: what a balance pays over a fixed term, what a premium grows to, and how long money lasts at a given withdrawal. No lead form, and no invented lifetime income figures.
What a balance pays out over a fixed term. Period-certain math: the level payment that exactly exhausts a starting balance over a set number of years. This is what a period-certain annuitization solves for, and it is the same arithmetic as a mortgage payment run backwards.
What a premium grows to before payout. Compound growth on a deferred contract. Useful for a MYGA where the rate is contractually guaranteed for the full term. On an indexed contract the credited rate varies year to year, so treat any single rate here as a scenario rather than a projection.
How long a balance lasts at a given withdrawal. Depletion math. If your withdrawal is smaller than the interest the balance earns, the principal is never consumed and the calculator will say so rather than invent a number.
All figures are pre-tax estimates based on the rate you enter, not quotes. They do not reflect any specific contract's caps, spreads, rider charges, or surrender schedule. Annuity guarantees depend on the claims-paying ability of the issuing insurance company.
Which annuity calculation do you actually need?
Accumulation phase. If you hold a deferred contract and want its future value at the end of the term, use the growth tab. Enter the guaranteed interest rate from your contract. On a fixed rate MYGA this projection is reliable because the rate is contractual; on a fixed index annuity the credited rate varies year to year, so treat any single figure as one scenario rather than a forecast.
Period certain payout. If you want to know what a balance produces as predictable income over a set number of years, use the payout tab. This is the calculation behind a fixed period annuitization, and the arithmetic is exact.
Single life and joint life. These pay for as long as one or two people live, and they are the calculations this tool deliberately does not perform. Immediate annuities and deferred income annuities are priced by insurance companies from mortality tables and current interest rates, which is why annuities pay what they pay and why no calculator can tell you without a quote.
What none of this includes. Surrender fees, rider charges, caps, spreads, and taxes due on withdrawal. Every figure here is pre-tax and pre-charge. Your contract's guaranteed minimum interest rate, not the current rate, is what governs your worst case — check it before relying on any projection.
Why this tool will not give you a lifetime income number
Nearly every annuity calculator online will happily produce a lifetime monthly income figure from three inputs. That number is not real. A genuine lifetime payout depends on the payout rate a specific carrier is publishing that week, your exact age, your gender, your state of residence, whether the contract is single or joint life, and which income rider you select.
A calculator with none of that information is generating a plausible-looking figure and presenting it as an estimate. In our experience the produced number is usually optimistic, which is convenient for whoever built the calculator and put a lead form underneath it.
Period-certain math, compound growth, and depletion math require no such assumptions. Those are the three calculations here, and they are exact given your inputs. For deferred annuities the growth tab covers the accumulation phase; for guaranteed income from a single or joint life contract, you need a real quote. If you want a real lifetime figure, it has to come from actual carrier quotes — we will pull them for you without a sales pitch attached.
About these calculations.
Palm Wealth Capital provides independent annuity research and education. This calculator is for informational purposes only and is not individualized investment or tax advice, nor a recommendation to buy or avoid any product. Consult a licensed professional before acting on any figure produced here.
Got a number — now get real quotes for it.
These figures are exact period-certain arithmetic. What an actual carrier will pay you for lifetime income depends on your age, state, payout option, and which insurer you ask — and quotes for the same person differ by several percent in the same week. Send us the amount and the income you need; we will pull competing quotes and show you the payout options side by side.