Shocking $1 Million Dollar Annuity Calculator Payouts In 2026

Annuities are getting better every day, and that includes multi million dollar annuities.

For large cases like over $1 million, annuity companies give extra sweet deals.

This article will go over the best $1 million dollar annuities and what they offer. Seniors Mutual is a brokerage with 25+ companies so we can find the best rates for you.

Fill out our quoter below to get a comparison report of the top annuities for any coverage amount and book a call with us after if you wish.

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Annuity Type – Select All That Apply *

• Fixed Lifetime Income Annuity
• MYGA (Bank CD)
• Indexed Annuity

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Table Of Contents

• Annuity Types
• $1 Million Annuity Payout
• $1 Million Annuity Withdrawl
• How To Get The Best Annuity Payout

Different Annuity Types

There are multiple types of annuities you can get with capital in excess of $1 million.

• Immediate Income Annuity – These annuities are what most people think of when they think of annuities, and pay out immediately upon buying one. They pay a fixed amount of income for life on either a single life or joint life.
• Deferred Income Annuity – These annuities are similar to immediate in that they are fixed for life but they start sometime after 1 year. You can defer the income payments to sometime in the future and gain a fixed amount of interest each year until you start income payments, sometimes as much as 10% fixed a year!
• Fixed Indexed Annuity – These annuities are more for long term growth. You can select multiple or just one index, such as the S&P 500, to put your capital into. There is a 0% floor and they grow either by participation rates or interest cap rates. These are mostly for people looking for growth over 10+ years before they start taking withdrawls, although it doesn’t always have to be that way.
• Multi Year Guaranteed Annuity MYGA (Bank CD) – These are like a bank CD, they give you a fixed interest rate for a few years and then give you all the principal back plus interest. Good if you want the principal back at the end of it for other investments. They tend to be higher than bank cds.

Which annuity is best for you will depend on your time horizon, we do all the above at Seniors Mutual.

$1 Million Dollar Annuity Payout

This is the part most people are looking for.

Unfortunately, it’s hard to give an answer because the $1 million annuity payout will depend on your age and if you want it deferred or not and if it is on a single life or joint life with a spouse.

However, here are some case studies.

A 65 year old husband and wife (also 65) want to get an immediate income annuity for $1 million, joint life.

In this case, as of the writing of this article, the highest payout for a $1 million annuity would be $67,100/year, with top companies being Sentinel Security, GILICO, and Allianz.

Some companies will even give a premium bonus of up to 20%!

Here’s another case study…

A 65 year old man wants to get a deferred income annuity on only his life for $1 million, and start it at age 70.

Currently, the best payout for a $1 million deferred annuity for 5 years would be around $112,647/year with American Equity, but rates and companies change all the time.

This particular company would give a 10% premium bonus immediately followed by an 8.25% fixed interest rate each year deferred. They also would double income payments due to a disability or need for long term care.

Not bad!

$1 Million Dollar Annuity Withdrawl

Generally speaking, a $1 million annuity withdrawl is fixed for life on the income annuities.

However, on a fixed indexed annuity, there are additional stipulations.

On these types of annuities, you can only take out up to 10% of the total accumulation value every year.

While that is usually more than enough for most people, keep that in mind when looking at the different annuity types.

After 10 years on an indexed annuity, and some are less and some or more years, you can withdraw the full accumulation value penalty free if you wish.

How to Get The Best Annuity Rates

Annuity rates are changing all the time, and the companies are constantly jockeying for position.

That’s why it’s important to get a quote on multiple annuity carriers.

Luckily, there are brokerage companies like us, Seniors Mutual, that shop the market for you.

We work with the top annuity companies to find the highest payout for you, no matter the annuity type.

If you want quotes on any amount of an annuity, fill out our quote form and we will go over the best annuity rates at that time, no pressure or sales tactics.

We look forward to speaking with you!