SPIA rates are not a locked yield like a MYGA — they are the monthly check a carrier will pay for your age, gender, state, and payout form on the illustration date. The same design can differ by hundreds of dollars a year. The September 2026 boards below rank 5-, 7-, and 10-year payouts on one case.
Local Life Agents compares SPIA illustrations across 30+ A-rated carriers on identical assumptions before clients irrevocably elect a payout form. These tables are a period-certain snapshot — the check ends when the term ends.
Key Takeaways
- Five-year lead. Athene pays $1,688.86/month on $250,000 for a 65-year-old male (Ohio, single life, 5-year period certain).
- Seven-year lead. Integrity (W&S) at $1,663.62 — Nationwide is $0.44 behind. Athene did not quote that board.
- Ten-year lead. Athene at $1,653.52; Nationwide drops to #4 on this term.
- Sort order shifts. The $100,000 column does not match the $250,000 ranking on every table.
- Not lifetime income. Period-certain SPIAs expire. A lifetime income rider on a deferred annuity is a different illustration.
5-Year SPIA Rates
Athene pays the most on $250,000 for this Ohio case on a 5-year period certain. At $100,000, Nationwide ranks ahead of Integrity. Rankings below follow the $250,000 column.
September 2026 SPIA Payout Comparison — Methodology
Local Life Agents compiled SPIA payout data on September 13, 2026 by running identical illustrations through our live quoting platform and carrier illustration software. Figures reflect a male applicant, age 65, Ohio, non-qualified funds, single life with period certain, first monthly income October 13, 2026. Tables show the top five carriers by monthly payout, ranked on the $250,000 column. Actual income varies by state, age, gender, guarantee period, and contract options.
- Data source
- Local Life Agents live quoting platform
- Carriers
- 30+ carriers on our quoting platform
- Date range
- September 13, 2026
- States
- Ohio snapshot (payouts vary by state)
The table below is the 5-year board.
| Carrier | $100k | $250k | $1M |
|---|---|---|---|
| Athene Annuity | $675.54 | $1,688.86 | $6,755.42 |
| Integrity (W&S) | $667.01 | $1,675.17 | $6,715.95 |
| Nationwide | $669.29 | $1,673.21 | $6,692.86 |
| Minnesota Life | $665.44 | $1,667.98 | $6,660.67 |
| Penn Mutual | $663.66 | $1,664.15 | $6,656.62 |
7-Year SPIA Rates
Integrity (W&S) leads the 7-year board on $250,000. Nationwide is a few cents behind and leads the $100,000 column. Athene did not quote this board.
| Carrier | $100k | $250k | $1M |
|---|---|---|---|
| Integrity (W&S) | $662.40 | $1,663.62 | $6,669.72 |
| Nationwide | $665.27 | $1,663.18 | $6,652.72 |
| Penn Mutual | $660.50 | $1,656.22 | $6,634.84 |
| Minnesota Life | $660.58 | $1,655.82 | $6,632.05 |
| EquiTrust | $647.76 | $1,622.93 | $6,493.76 |
Send your age, premium, and whether you need income now. We run the same case in your state.
Compare annuity illustrations
Ready to see monthly income for your age, gender, and payout form?
10-Year SPIA Rates
Athene leads 10-year on $250,000. Integrity is second. Nationwide drops to #4 on this term; at $100,000 it ranks #2. This check ends in 10 years — it is not lifetime income.
| Carrier | $100k | $250k | $1M |
|---|---|---|---|
| Athene Annuity | $661.41 | $1,653.52 | $6,614.07 |
| Integrity (W&S) | $655.04 | $1,645.19 | $6,595.92 |
| Penn Mutual | $654.56 | $1,641.33 | $6,575.19 |
| Nationwide | $655.24 | $1,638.09 | $6,552.38 |
| Minnesota Life | $650.86 | $1,631.52 | $6,534.84 |
Expert Tip: Period-certain SPIAs expire. Lifetime riders do not.
A SPIA on this page is period certain — the check ends when the term ends. Most cases I run, a fixed indexed annuity with a lifetime income rider pays as much or more and does not expire. That matters most at 10-year. I still quote the SPIA. I do not let it be the only illustration.
—Ryan Wood
Who a SPIA Is Not For
A SPIA is a poor fit if you need the premium back, want the money to keep accumulating, or have not decided how to protect a spouse. Life-only pays more and leaves nothing if you die early. Period certain and refund options cut the monthly check and protect heirs. Confirm the option set on the illustration before you compare carriers.
For guaranteed growth or indexed upside, start at the annuity rates hub. Product mechanics and payout forms are on the SPIA product guide and payout options pages.
Conclusion
The pattern we see: people take the first SPIA illustration they get. The leader on this board changes by period certain and by premium band — Athene is first on 5- and 10-year and absent on 7-year. A captive quote misses that, and a period-certain SPIA is not a lifetime paycheck. Local Life Agents runs the same case across the carriers we can illustrate in your state. If the number works, apply on that illustration. Return to the annuities hub for payout options and product types.
FAQ
