An annuity quote tells you what a specific carrier will guarantee for a specific premium on a specific day. Getting a useful quote — and comparing quotes correctly — requires knowing what drives the numbers, what information you'll need to provide, and which follow-up questions separate a good contract from a merely good-looking rate. Here's the full process.

First: know which kind of quote you're asking for

Different annuity types quote in different units, and comparing across types is meaningless until you know which you need:

  • A MYGA quote is an interest rate — e.g., 5.4% guaranteed for 5 years. (See today's rates across 60+ carriers.)
  • An income annuity quote — SPIA for income now, DIA for income later — is a monthly payment: "$100,000 buys $612/month for life starting at 65."
  • A fixed indexed annuity quote is a set of crediting terms — caps, participation rates, and index options — plus rider pricing if you add income guarantees.

If you're not yet sure which type fits, start with our complete annuity guide or our What Is Your Number calculator, which works backward from the income you need.

What determines the numbers in your quote

  • Your age — and your spouse's, for joint contracts. Older buyers receive higher income payouts because the expected payment period is shorter.
  • Premium amount — larger deposits sometimes unlock better rate tiers or banded pricing.
  • Payout option — life-only pays the most; joint-and-survivor, period-certain, and cash-refund options reduce the payment in exchange for protection. Our payout options guide explains each.
  • Income start date — deferring income raises the eventual payment substantially, which is the entire logic of the DIA and the QLAC.
  • The interest rate environment — annuity pricing moves with bond yields, which is why quotes are typically guaranteed for only a short window, often 7–14 days.
  • Your state — product availability, versions, and even rates vary by state of residence.

Information you'll need to provide

For an accurate quote: your date of birth (and spouse's for joint options), the premium amount, the funding source — non-qualified savings versus an IRA/401(k) rollover, which changes tax treatment but not the rate — your state of residence, and when you want income to begin. That's it. No medical exam, no credit check; annuity pricing is actuarial, not underwritten like life insurance.

How to compare quotes properly

  • Compare identical configurations. A life-only quote will always beat a cash-refund quote — that's the option you selected, not a better carrier. Lock the configuration, then compare carriers.
  • Put the carrier's financial strength rating next to every rate. A slightly higher payout from a significantly weaker carrier is not the better deal — your guarantee is only as strong as the company behind it. Our carrier financial strength guide explains AM Best ratings.
  • For MYGAs: confirm the rate guarantee period matches the surrender period, and ask about renewal terms at the end of the guarantee. A great 5-year rate with a 7-year surrender period has a trap in years six and seven.
  • For FIAs: compare caps and participation rates on the same index and crediting method — and ask whether those rates are guaranteed or can be lowered at renewal, and what the carrier's renewal history looks like.
  • Ask what happens if you need money early: the free-withdrawal percentage, the surrender schedule year by year, and any waivers for nursing home confinement or terminal illness.

Questions every agent should answer without hesitation

  • How are you compensated on this product?
  • How many carriers do you represent, and why this one for my situation?
  • What is the surrender schedule, year by year?
  • What does this contract guarantee, versus what is merely illustrated?
  • What is the carrier's AM Best rating?

Hesitation on any of these is information. (For the credentials behind the business card, see our guide to advisor designations — and our article on annuity sales tactics to avoid.)

Why quote through an independent agent

An independent agent quotes across many carriers and shows you the market; a single-company representative shows you one shelf. Quotes are free, carry no obligation, and the information requirements are minimal — there is no reason not to compare several carriers before committing five or more years of your savings.

When you're ready, our licensed agents can run quotes across 60+ carriers and walk you through the trade-offs — rate against rating, payout option against protection, liquidity against yield. Free, no pressure, and you keep the quotes either way.