Michigan Annuity Rates & Guide
Michigan offers significant tax benefits for retirees, with many residents able to deduct substantial retirement income from state taxes. The state's 1.8 million seniors represent a strong annuity market.
Key Facts for Michigan Annuity Buyers
Tax Treatment of Annuity Income in Michigan
Michigan's tax treatment of annuity income depends on your birth year. Residents born before 1946 can deduct all retirement income. Those born 1946-1952 can deduct up to $20,000 (single) or $40,000 (joint). Those born after 1952 can deduct up to $20,000 against all income after age 67.
Remember that federal taxes still apply regardless of your state. For non-qualified annuities, only the earnings portion is taxed (the "exclusion ratio" shelters your original investment). For qualified annuities funded with pre-tax money, 100% of each payment is taxable at the federal level. Read our complete tax guide for details.
Male Annuity Rates in Michigan
Monthly income from a $100,000 SPIA for men. Rates are the same regardless of state — what differs is the after-tax amount you keep.
Male Monthly Income Rates
Updated March 2026| Carrier | Rating | Age 55 | Age 60 | Age 65 | Age 70 | Age 75 | Age 80 |
|---|---|---|---|---|---|---|---|
| New York Life | A++ | $535/mo | $575/mo | $632/mo | $712/mo | $825/mo | $988/mo |
| MassMutual | A++ | $520/mo | $558/mo | $615/mo | $695/mo | $808/mo | $970/mo |
| Pacific Life | A+ | $528/mo | $565/mo | $622/mo | $702/mo | $815/mo | $978/mo |
| Prudential | A+ | $515/mo | $552/mo | $608/mo | $688/mo | $798/mo | $960/mo |
| MetLife | A+ | $522/mo | $560/mo | $618/mo | $698/mo | $810/mo | $972/mo |
| Lincoln Financial | A+ | $510/mo | $548/mo | $605/mo | $685/mo | $795/mo | $958/mo |
| Nationwide | A+ | $518/mo | $555/mo | $612/mo | $692/mo | $802/mo | $965/mo |
| Allianz | A+ | $530/mo | $570/mo | $628/mo | $708/mo | $820/mo | $982/mo |
Rates updated March 2026. Based on $100,000 premium. Your exact rate may differ — request a personalized quote.
Female Annuity Rates in Michigan
Monthly income from a $100,000 SPIA for women. Women receive lower monthly payments but benefit from longer total income periods.
Female Monthly Income Rates
Updated March 2026| Carrier | Rating | Age 55 | Age 60 | Age 65 | Age 70 | Age 75 | Age 80 |
|---|---|---|---|---|---|---|---|
| New York Life | A++ | $510/mo | $545/mo | $598/mo | $672/mo | $778/mo | $932/mo |
| MassMutual | A++ | $495/mo | $530/mo | $582/mo | $656/mo | $762/mo | $915/mo |
| Pacific Life | A+ | $502/mo | $538/mo | $590/mo | $664/mo | $770/mo | $922/mo |
| Prudential | A+ | $490/mo | $525/mo | $578/mo | $650/mo | $755/mo | $908/mo |
| MetLife | A+ | $498/mo | $535/mo | $586/mo | $660/mo | $765/mo | $918/mo |
| Lincoln Financial | A+ | $485/mo | $522/mo | $575/mo | $648/mo | $752/mo | $905/mo |
| Nationwide | A+ | $492/mo | $528/mo | $580/mo | $654/mo | $758/mo | $910/mo |
| Allianz | A+ | $505/mo | $540/mo | $594/mo | $668/mo | $774/mo | $928/mo |
Rates updated March 2026. Based on $100,000 premium. Your exact rate may differ — request a personalized quote.
Joint Annuity Rates in Michigan
Monthly income for couples with 100% survivor benefit. The lower monthly amount covers both spouses for life.
Joint (Couple) Monthly Income Rates
Updated March 2026| Carrier | Rating | Age 55 | Age 60 | Age 65 | Age 70 | Age 75 | Age 80 |
|---|---|---|---|---|---|---|---|
| New York Life | A++ | $475/mo | $508/mo | $555/mo | $622/mo | $715/mo | $845/mo |
| MassMutual | A++ | $460/mo | $493/mo | $540/mo | $607/mo | $700/mo | $830/mo |
| Pacific Life | A+ | $468/mo | $500/mo | $548/mo | $615/mo | $708/mo | $838/mo |
| Prudential | A+ | $455/mo | $488/mo | $535/mo | $602/mo | $695/mo | $822/mo |
| MetLife | A+ | $465/mo | $498/mo | $545/mo | $612/mo | $705/mo | $835/mo |
| Lincoln Financial | A+ | $452/mo | $485/mo | $532/mo | $600/mo | $692/mo | $820/mo |
| Nationwide | A+ | $458/mo | $492/mo | $538/mo | $605/mo | $698/mo | $825/mo |
| Allianz | A+ | $472/mo | $505/mo | $552/mo | $618/mo | $712/mo | $842/mo |
Rates updated March 2026. Based on $100,000 premium. Your exact rate may differ — request a personalized quote.
Popular Retirement Cities in Michigan
Annuity buyers in Michigan are concentrated in the state's largest metro areas:
- Detroit, MI
- Grand Rapids, MI
- Ann Arbor, MI
- Lansing, MI
- Kalamazoo, MI
No matter where you live in Michigan, you can compare rates from national carriers. Annuity rates are determined by the insurance company, not your location — but your state's tax treatment affects how much you keep.
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