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Looking for the best SPIA payouts today? They vary by carrier, period certain, and premium. The same design can differ by hundreds of dollars a year. We compare 30+ highly rated carriers on one case. Here are this month's top 5-, 7-, and 10-year payouts.
Key Takeaways
5-year lead. Athene pays $1,688.86/month on $250,000 for a 65-year-old male (Ohio, single life, 5-year period certain).
7-year lead. Integrity (W&S) at $1,663.62 — Nationwide is $0.44 behind. Athene did not quote that board.
10-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.
September 2026 SPIA Payout Comparison — Methodology
InsuranceGeek 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
- InsuranceGeek live quoting platform
- Carriers
- 30+ carriers on our quoting platform
- Date range
- September 13, 2026
- States
- Ohio snapshot (payouts vary by state)
5-year SPIA rates
Athene pays $1,688.86 a month on $250,000 for a 65-year-old male in our September 13, 2026 Ohio illustration — single life, 5-year period certain. Integrity is second at $1,675.17. At $100,000, Nationwide ranks ahead of Integrity. Athene over EquiTrust on this same $250,000 design is $51 a month — $612 a year — and EquiTrust (B++) is out of this top five after leading every period in May.
| # | Carrier | $100k | $250k | $1M |
|---|---|---|---|---|
| 1 | Athene Annuity | $675.54 | $1,688.86 | $6,755.42 |
| 2 | Integrity (W&S) | $667.01 | $1,675.17 | $6,715.95 |
| 3 | Nationwide | $669.29 | $1,673.21 | $6,692.86 |
| 4 | Minnesota Life | $665.44 | $1,667.98 | $6,660.67 |
| 5 | Penn Mutual | $663.66 | $1,664.15 | $6,656.62 |
7-year SPIA rates
Integrity (W&S) pays $1,663.62 a month on $250,000 for the same Ohio case on a 7-year period certain. Nationwide is $0.44 behind. Athene did not quote this board. At $100,000, Nationwide leads.
| # | Carrier | $100k | $250k | $1M |
|---|---|---|---|---|
| 1 | Integrity (W&S) | $662.40 | $1,663.62 | $6,669.72 |
| 2 | Nationwide | $665.27 | $1,663.18 | $6,652.72 |
| 3 | Penn Mutual | $660.50 | $1,656.22 | $6,634.84 |
| 4 | Minnesota Life | $660.58 | $1,655.82 | $6,632.05 |
| 5 | EquiTrust | $647.76 | $1,622.93 | $6,493.76 |
10-year SPIA rates
Athene pays $1,653.52 a month on $250,000 for the same Ohio case on a 10-year period certain. 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 |
|---|---|---|---|---|
| 1 | Athene Annuity | $661.41 | $1,653.52 | $6,614.07 |
| 2 | Integrity (W&S) | $655.04 | $1,645.19 | $6,595.92 |
| 3 | Penn Mutual | $654.56 | $1,641.33 | $6,575.19 |
| 4 | Nationwide | $655.24 | $1,638.09 | $6,552.38 |
| 5 | 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.
—Brad Cummins, Insurance Geek Founder
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.
Compare annuity illustrations
Compare MYGA rates, FIA caps, and SPIA payouts across 30+ A-rated carriers on the same premium, term, and state.
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 one-carrier quote misses that, and a period-certain SPIA is not a lifetime paycheck.
Send us your age, premium, and whether you need income now or can compare a lifetime income rider. We run the same case across the carriers we can illustrate in your state. If the number works, apply on that illustration.
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About Brad Cummins
Brad Cummins is the founder of Insurance Geek and primary author of its educational content. Licensed since 2004, he brings over 21 years of experience structuring life insurance and IUL strategies for clients nationwide.
Fact checked by Ryan Wood
Ryan Wood is a licensed insurance professional and contributing advisor at Insurance Geek, serving as a fact checker and technical reviewer for life insurance and annuity content. First licensed in 2013, he brings more than 12 years of experience and holds licenses in over 40 U.S. states.
