How Much Does a $300,000 Annuity Pay Per Month?
A $300,000 single premium immediate annuity (SPIA) pays a 65-year-old man about $2,025/month for life — $1,911/month for a woman, or $1,761/month for a couple with 100% survivor benefit. Here are the exact numbers by age.
$300,000 Annuity: Monthly Income by Age (August 2026)
Best available monthly payment among 8 top-rated carriers from actual quote surveys — single life with a 5-year period certain. Joint figures assume both spouses the same age with 100% survivor benefit.
| Age at Purchase | Male | Female | Joint (Couple) |
|---|---|---|---|
| 55 | $1,785/mo | $1,743/mo | $1,656/mo |
| 60 | $1,881/mo | $1,836/mo | $1,701/mo |
| 65 | $2,025/mo | $1,911/mo | $1,761/mo |
| 70 | $2,253/mo | $2,097/mo | $1,920/mo |
| 75 | $2,619/mo | $2,430/mo | $2,166/mo |
| 80 | $3,123/mo | $2,886/mo | $2,511/mo |
Monthly income based on $100,000 premium, single life with 5-year period certain. Figures reflect actual carrier quotes surveyed this month — request a personalized quote for your exact age, state, and payout option. Figures scaled from per-$100,000 carrier rates.
A $300,000 Annuity Can Replace a Pension
A generation ago, a typical corporate pension paid a retiree $1,500–$2,000 per month. A $300,000 SPIA purchased at 65 essentially recreates that pension: roughly $2,025/month for a man, guaranteed for life, from an A-rated insurance company. If you never had a pension — or your lump-sum buyout left you without one — this is the closest financial equivalent you can buy.
Married couples often choose the joint-and-survivor option at this level so payments continue for both lifetimes.
What Affects Your Exact $300,000 Payout
- Your age. Every year you wait, the monthly payout rises — a man's best rate on $300,000 climbs from $2,025/mo at 65 to $2,253/mo at 70. See our guide to the best age to buy an annuity.
- Payout option. Life-only pays the most. Adding a 10-year period certain or cash-refund feature protects your heirs for a modest reduction. Compare options in our payout options guide.
- The carrier. On identical contracts, quotes across our 8 A-rated carriers currently differ by about 15% at age 65 — on $300,000 that is real money every month, for life. Compare current rates.
- Interest rates. SPIA payouts track bond yields. Rates rose about 9% between March 2026 and August 2026, so quotes are near multi-year highs. Locking a quote holds your rate for 7–14 days.
- Taxes. Buy with after-tax money and a large share of each payment is a tax-free return of principal. See how annuities are taxed.
Frequently Asked Questions
How much does a $300,000 annuity pay per month?
As of August 2026, a $300,000 single premium immediate annuity (SPIA) with a single-life payout and 5-year period certain pays approximately $2,025 per month for a 65-year-old man, $1,911 for a 65-year-old woman, and $1,761 for a 65-year-old couple (100% joint and survivor). Payments range from about $1,656 at age 55 up to $3,123 at age 80.
How much does a $300,000 annuity pay per year?
A $300,000 SPIA purchased at age 65 pays approximately $24,300 per year for a man and $22,932 per year for a woman, guaranteed for life. At age 70, a man's annual income rises to about $27,036.
Is a $300,000 annuity protected if the insurance company fails?
Yes, up to your state guaranty association's limit — $250,000 of annuity present value per owner per insurer in most states. Because $300,000 exceeds the typical limit, many buyers split the premium across two or more A-rated carriers so each contract stays fully protected.
What determines my exact payout on a $300,000 annuity?
Your age (older buyers receive more), sex (men receive more monthly because of shorter life expectancy), the payout option (life only pays the most; joint and survivor or cash-refund options pay less), current interest rates, and the carrier you choose. In our August 2026 survey, quotes across 8 A-rated carriers differ by about 15% at age 65 for identical contracts, which is why comparing quotes matters.
See What $300,000 Would Pay You
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