Is There A Minimum Age To Buy an Immediate Annuity?

Shawn Plummer

CEO, The Annuity Expert

Eligibility Age for Immediate Annuity

  • General Age: There is no specific minimum age for purchasing an immediate annuity.
  • For Minors: Individuals under the age of 18 (minors) require the consent of a guardian to buy an immediate annuity.

Age for Annuity with Lifetime Income Rider

  • Minimum Age: To purchase an immediate annuity with a guaranteed lifetime income rider, one must be at least 50 years old.


  1. Minor Scenario: A 16-year-old wishes to buy an immediate annuity. They can do so but must have their guardian’s consent.
  2. Adult Scenario: A 55-year-old individual opts for an immediate annuity with a lifetime income guarantee, which is permissible as they meet the minimum age requirement of 50.
Immediate Annuity Age

Immediate Annuity Age Requirements

Age GroupImmediate Annuity PurchaseLifetime Income Rider Eligibility
Under 18Guardian Consent RequiredNot Eligible
18 – 49EligibleNot Eligible
50 and aboveEligibleEligible


Purchasing an immediate annuity is accessible at any age, with minors needing a guardian’s consent. However, if the annuity includes a guaranteed lifetime income rider, the purchaser must be at least 50 years old. This ensures a secure financial plan tailored to different life stages. Contact us today for a free quote.

Request A Quote

Get help or a quote from a licensed financial professional. This service is free of charge.

Contact Us

Shawn Plummer

CEO, The Annuity Expert

Shawn Plummer is a licensed financial professional, insurance agent, and annuity broker with over 14 years of first-hand experience with annuities and insurance. Since beginning his journey in 2009, he has been pivotal in selling and educating about annuities and insurance products. Still, he has also played an instrumental role in training financial advisors for a prestigious Fortune Global 500 insurance company, Allianz. His insights and expertise have made him a sought-after voice in the industry, leading to features in renowned publications such as Time Magazine, Bloomberg, Entrepreneur, Yahoo! Finance, MSN, SmartAsset, The Simple Dollar, U.S. News and World Report, Women’s Health Magazine, and many more. Shawn’s driving ambition? To simplify retirement planning, he ensures his clients understand their choices and secure the best insurance coverage at unbeatable rates.

The Annuity Expert is an independent online insurance agency servicing consumers across the United States. The goal is to help you take the guesswork out of retirement planning and find the best insurance coverage at the cheapest rates

Scroll to Top