Best Annuity Rates in Florida

Monthly Income from a $100,000 Annuity in Florida

If you're investing $100,000 into an annuity in Florida, your monthly income will depend heavily on your age, the annuity type, and whether the plan includes any additional features such as cost-of-living adjustments or a guaranteed payment period.

For a 65-year-old Florida resident choosing a single-life immediate annuity, the average monthly income ranges between $500 and $600. Here’s how it typically breaks down:

• Single Life with No Riders: ~$560/month

• Joint Life with 10-Year Guarantee: ~$470/month

• With Inflation Adjustment (2%): Starts at ~$440/month and increases each year

  
  

These numbers serve as general estimates and vary depending on the issuing insurance provider, interest rates, and optional benefits.

The Highest Paying Fixed Annuity Rates Available

Currently, the highest paying fixed annuity rates in Florida come from multi-year guaranteed annuities (MYGAs), which are designed to lock in fixed interest for a set term. As of 2025, some of the best rates include:

• 5.60% for 5-Year MYGA

• 5.25% for 10-Year MYGA

• 5.35% for 3-Year MYGA

  
  

Top providers offering these rates include:

• Oceanview Life & Annuity

• Delaware Life

• Nassau Re

• Aspida Life Insurance Company

  
  

These annuities provide higher guaranteed returns than most CDs or savings accounts and come with tax-deferred growth benefits, which is particularly attractive to retirees looking for reliable income growth in Florida.

Monthly Payout from a $1,000,000 Annuity

With a $1,000,000 annuity, the monthly income in Florida can be substantial and highly customizable. Based on a 65-year-old individual, here’s what the monthly payouts typically look like:

• Single Life Immediate Annuity: ~$5,500 to $6,000/month

• Joint Life with 10-Year Guarantee: ~$4,600 to $5,000/month

• With Inflation Adjustment (2%): Starts around ~$4,200/month and increases annually

  
  

This payout structure provides dependable income and can be used to supplement Social Security or pension income, giving retirees more financial flexibility and peace of mind.

Estimated Monthly Income from a $300,000 Annuity

A $300,000 annuity for a 65-year-old Floridian could provide the following estimated monthly income:

• Single Life: ~$1,650/month

• Joint Life with 10-Year Guarantee: ~$1,400/month

• With COLA Rider: Starts at ~$1,250/month and increases annually

  
  

For many, this level of income works well as a complement to other retirement savings, especially for covering recurring fixed expenses such as housing, insurance, or medical costs.

Leading 5-Year Fixed Annuity Rates

The best 5-year fixed annuity rates in Florida currently range between 5.30% and 5.60%, depending on the insurance company and whether any riders or add-ons are included.

Top insurers offering competitive 5-year fixed rates include:

• Oceanview Life

• Delaware Life

• Nassau

• Sentinel Security Life

  
  

With a $100,000 investment at 5.6%, you would earn about $31,000 in interest over 5 years, assuming interest is compounded and no withdrawals are made. These are especially popular among conservative investors looking for safe and predictable returns without stock market exposure.

Annuity Options Spanning 30 Years

A 30-year annuity is usually structured as either a long-term period-certain annuity or a lifetime annuity with a 30-year guaranteed payout. These are excellent for those wanting income stability over an extended retirement horizon.

Assuming a $100,000 purchase:

• You could receive around $500/month for 30 years

• If inflation protection is added, the initial payout may start lower but gradually increase

• Ideal for individuals retiring early or planning a legacy strategy

  
  

Since most fixed annuities don’t offer a straight 30-year term, this is often accomplished through income riders or layering multiple products.

Competitive 10-Year Fixed Annuity Rates

Florida residents searching for 10-year fixed annuities will find rates in the 4.90% to 5.40% range in early 2025. These longer-term products offer compounded tax-deferred growth and often include optional riders like enhanced death benefits or long-term care coverage.

Providers leading the 10-year market in Florida include:

• MassMutual Ascend

• American National

• F&G Life Insurance

  
  

With $100,000 invested at 5.4%, the value at maturity would be about $168,000, assuming no withdrawals. These annuities provide a consistent path to future income or a large principal return at the end of the term.

Best Fixed Annuity Rates for 2 Years

Short-term options are gaining attention, especially for those looking to park cash while maintaining some yield. The best 2-year fixed annuity rates in Florida are currently around 4.60% to 4.90%.

Insurance companies offering competitive 2-year rates:

• Canvas Annuity

• Delaware Life

• Oxford Life

  
  

Although the interest earned is lower than longer-term annuities, these short-term products are perfect for individuals who anticipate needing liquidity or want to wait for further rate hikes before committing to a long-term plan.

20-Year Annuity Returns in Florida

A 20-year annuity in Florida can provide fixed monthly payments or deferred lump-sum growth, depending on the structure. If you opt for a period-certain annuity, you might receive:

• $550 to $600/month for every $100,000 invested

  
  

Alternatively, if you go with a 20-year MYGA-style fixed annuity, you could lock in an interest rate of around 4.85% to 5.10%, depending on the provider.

These types of annuities are ideal for structured retirement income, such as covering expenses between ages 65 and 85, after which Social Security or pensions might take full effect.

Understanding the Current Annuity Market

As of 2025, the current annuity rates are generally at their highest levels in over a decade due to rising interest rates from the Federal Reserve. This has led to increased returns across:

• Fixed Annuities: 4.9% to 5.6%

• MYGAs: 5.1% to 5.6%

• Indexed Annuities: With annual caps of 8% to 10%, depending on index performance

  
  

This favorable rate environment makes 2025 a strong year for locking in annuity contracts, especially for Florida retirees seeking guaranteed returns amidst stock market uncertainty.

Lifetime Income Annuity Options

Lifetime annuities guarantee income for as long as you live, making them particularly valuable for longevity planning. For a Florida resident investing $100,000 at age 65, you could expect:

• $530 to $580/month for life (single)

• $450 to $500/month for joint life

  
  

Many lifetime annuities offer optional features like:

• Inflation protection

• Death benefit riders

• Guaranteed minimum payment periods

  
  

These features can add peace of mind, ensuring beneficiaries are protected even if the annuitant passes away early in retirement.

Fidelity’s Top 5-Year Fixed Annuity Rates

If you're considering Fidelity in Florida, their 5-year fixed annuity offerings are currently among the most competitive. As of early 2025:

• Rates range from 5.00% to 5.45%

• Fidelity partners with top-rated insurers like New York Life, MassMutual, and Pacific Life

• Available for both qualified and non-qualified accounts

  
  

Fidelity’s platform also offers transparency and easy-to-use tools to compare annuity contracts, making it a go-to resource for retirees wanting reliability from a well-known brand.

FINAL THOUGHTS

Florida offers a wide array of annuity choices for retirees and investors seeking secure, predictable income. Whether you're allocating $50,000 for short-term growth or $1,000,000 for lifetime income, current rates provide opportunities for strong returns, tax-deferred growth, and long-term stability.

From short 2-year fixed options at nearly 5% to lifetime annuities providing consistent monthly payouts, the Sunshine State is a great place to explore annuity products. Use tools like annuity calculators, comparison charts, and speak with a licensed advisor to tailor a plan that fits your retirement goals.

With high interest rates and reputable providers available, 2025 could be the right time to lock in one of the most reliable income strategies available to Florida residents.