Annuity Age Limits

Shawn Plummer, CRPC

Chartered Retirement Planning Counselor

Annuity Age Limits

Understanding the age limits for purchasing annuities is crucial for effective retirement planning. Here’s a comprehensive guide to help you navigate the options available at different stages of life.

Types of Annuities and Their Age Limits

1. Immediate Annuities:

  • Typical Age Range: 30-85 years
  • Details: Immediate annuities begin payments soon after a lump-sum investment is made. They are often used by retirees looking to secure a steady income stream.

2. Deferred Annuities:

  • Typical Age Range: 18-90 years
  • Details: Deferred annuities accumulate money over time and start paying out at a later date. They are suitable for individuals planning for retirement several years ahead.

3. Fixed Annuities:

  • Typical Age Range: 18-85 years
  • Details: Fixed annuities offer guaranteed interest rates and are ideal for conservative investors looking to preserve capital.

4. Variable Annuities:

  • Typical Age Range: 18-85 years
  • Details: Variable annuities allow investments in various sub-accounts, which can fluctuate with the market. They are suited for those with a higher risk tolerance.

5. Indexed Annuities:

  • Typical Age Range: 18-85 years
  • Details: Indexed annuities provide returns based on a stock market index while protecting against market downturns. They balance growth potential and security.
Annuity Age Limits

Considerations for Older Buyers

  • Health and Longevity: Insurance companies consider your health and expected longevity when determining eligibility and terms for annuities.
  • Payout Periods: Shorter payout periods may be available for older purchasers, which could result in higher payments.
  • Surrender Charges and Penalties: If you need to access funds early, be aware of potential surrender charges. Some annuities offer more flexibility than others.


Annuities can be a valuable tool in your retirement planning toolkit, regardless of your age. Understanding the age limits and how they affect your options is essential for making informed decisions.

Age Limits For Annuities

What We Recommend

  • Assess Your Needs: Consider your financial goals, risk tolerance, and retirement timeline before choosing an annuity.
  • Consult with Providers: Speak with multiple annuity providers to understand the range of options available to you.
  • Read the Fine Print: Ensure you understand the terms, fees, and conditions of any annuity you consider.

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Frequently Asked Questions

Can I buy an annuity if I’m over 85?

While many annuities have upper age limits around 85, some products and companies may offer options up to age 90 or beyond, albeit with different terms.

What happens if I outlive my annuity?

Certain annuities offer lifetime income options, ensuring you receive payments for as long as you live. Always check the specific terms of the annuity product.

Are there age restrictions for adding to an existing annuity?

Yes, age restrictions can apply to additional contributions, particularly for tax-deferred products like IRAs. Always verify with the annuity provider.

Shawn Plummer, CRPC

Chartered Retirement Planning Counselor

Shawn Plummer is a Chartered Retirement Planning Counselor, 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

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