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USAA Life Insurance Company and USAA Life Insurance Company of New York

An immediate annuity offers reliable income during retirement.

Talk about your options with  a Retirement Income Specialist.

Schedule a call with a retirement income specialist

Call 800-833-9847

For TTY devices, dial

Hours of operation for our Retirement Income Specialists

Monday to Friday
7:30 a.m. to 8 p.m. CT
Saturday to Sunday
Closed

Note: Days and times may vary

Social Security Fairness Act: How millions could see a boost in benefits webinar

Congress passed the Social Security Fairness Act this year. It’s the first significant Social Security law in 10 years. Learn about the law, who it affects and what you can do to increase your benefits.

Not affected by the new law? You should still join. You’ll find out how to maximize your benefits with our Social Security calculator.

During the session, we’ll have licensed specialists available to answer your questions.

If you can't attend you should still register. We'll send the webinar recording to everyone who signs up. 

Date and time

Aug. 27 at 2 p.m. CT

Register now

What's an immediate annuity?

An immediate annuity is a type of insurance contract that can provide income during retirement years. It's also known as an income annuity. It's income for a period of time you choose or the rest of your life.

Our immediate annuity is a single premium immediate annuity, or SPIA. With a SPIA, you'll have income backed by the financial strength of USAA Life Insurance Company.

Start enjoying retirement with a SPIA.

Video Duration: 1 minute 25 seconds

Saving for retirement: Elapsed time 0 seconds [00:00]

You did the smart thing by putting away money all your life. But, now that you're nearing retirement, you may be wondering how to make the best use of your hard-earned cash.

SPIA and how it works: Elapsed time 10 seconds [00:10]

Whether you're getting ready to retire or already enjoying retirement, a USAA single premium immediate annuity – or SPIA – may be the right choice for you.

A USAA SPIA works like a paycheck. You pay in a lump sum and in return you get a series of guaranteed payments for life, for a set period or both.

Who benefits from SPIA?: Elapsed time 32 seconds [00:32]

No matter how long you live, you can receive income to support you and your loved ones. After you're gone, remaining payments, if any, will pass down to your beneficiaries.

A USAA SPIA can add to other retirement income such as Social Security or pensions. You can spend on what you want when you want. It can be an efficient way to generate income, and, with USAA's competitive rates, you can make the most of your hard-earned retirement savings.

SPIA is an insurance product: Elapsed time 1 minute 2 seconds [01:02]

Since a USAA SPIA is an insurance product and not an investment, you don't have to worry about losing your money or taking portfolio withdrawals during market downturns.

Speak to a specialist today: Elapsed time 1 minute 12 seconds [01:12]

Start living your best retirement with a USAA SPIA. To get advice you can count on speak to a USAA Retirement Income Specialist today.

End: Elapsed time 1 minute 25 seconds [01:25]

What you get with a single premium immediate annuity

Predictability, not volatility

Get a reliable source of income that’s not affected by the ups and downs of the stock market. This means you’ll always know how much you’re getting from your annuity each month.

Flexible payment options

Choose an income stream that pays you for life, or get payments‍ ‍ See note 1 for a set period of time like 10, 15 or 20 years.

Freedom to enjoy retirement

Focus on living your retirement years the way you want. With an immediate income annuity, you don't have to worry about outliving your savings. 

Inflation protection

Start your annuity with non-IRA funds and your payment can grow by 1% to 3% each year with Optional Rising Income Privilege.‍ ‍ See note 2 To learn more, talk to a Retirement Income Specialist.

One-time access to principal

Access a portion of your funds in the event of a qualifying financial hardship.‍ ‍ See note 3

How much income can you get with an immediate annuity?

Our annuity calculator can help you estimate your income. Just enter a starting amount or how much income you need, as well as the number of years you want your money to last.

Calculate income now

Compare annuity payment options

You decide how you want to get your payments. You can also set up the recurring payments from your annuity to go directly into your bank account. 

Lifetime only

This offers the highest payout. Income is guaranteed‍ ‍ See note 4 for your lifetime only with no survivor benefits.

Guaranteed period of time

Income is guaranteed for a specific time typically 10, 15 or 20 years.

Lifetime and guaranteed period of time

Your income is guaranteed for the period you specify or for as long as you live, whichever is greater.

Why choose USAA Life Insurance Company for an annuity?

We've been providing insurance products and services for more than sixty years. And we're built around the core values of service, loyalty, honesty and integrity. Here's more of what you can expect from us.

Complimentary retirement review

We're here to help you find the annuity that best fits your retirement plan.

Our Retirement Income Specialists have the knowledge and insights to help you enjoy your retirement. They don’t work on commission, and they can help with Social Security claiming strategies, reviewing accounts and identifying retirement risks.  

Schedule a call with a retirement income specialist

Learn more

Financial strength

The USAA Life Insurance Company maintains top-tier grades from all 3 key rating agencies. This indicates that USAA has the financial strength to honor its promises.‍ ‍ See note 5

Learn more

Commitment to the military

USAA ranks #1 on the Military Friendly® Brand 2025 list.

Recognition by J.D. Power

USAA ranked #1 in Customer Satisfaction among Annuity Providers and Most Trusted in the J.D. Power 2024 U.S. Individual Annuity Study.‍ ‍ See note 6

Learn more about J.D. Power (Opens new window)

Get help settling an annuity.

Surviving the loss of a loved one involves many challenges and decisions. Our Survivor Relations team can be there for you during this difficult time.

We can help beneficiaries file an annuity claim and provide guidance on how to handle an estate.

Learn about survivor relations

Annuities FAQ

An immediate, or income, annuity pays out between 30 days and 12 months of opening it.

Yes. After owning your deferred annuity for one year, you can use it to generate income.

People living in retirement often use a SPIA to generate guaranteed income to cover their essential monthly expenses. This fixed monthly payment can help you meet your monthly bills and avoid the risk of running out of money during your retirement.

If you choose a guaranteed period option and pass before the period ends, payments will continue to your beneficiary.

View all annuities FAQ

How much retirement income do you need?

Find out where the gaps are between your expenses and income, whether you're preparing for retirement or already retired.

Calculate now

Related resources

Benefits of income annuity

Article: 3 minutes

Read article: Benefits of income annuity

How to set up your immediate annuity

Article: 4 minutes

Read article[: How to set up your immediate annuity]

A paycheck that can last for life

Article, Video: 4 minutes

Read article: A paycheck that can last for life

Let’s start planning for your retirement.

Schedule a call with a retirement income specialist

Call 800-833-9847

For TTY devices, dial 711

Hours

Monday to Friday
7:30 a.m. to 8 p.m. CT
Saturday
Closed
Sunday
Closed

Related footnotes:

  1. Money not previously taxed is taxed as income when paid. Withdrawals before age 59½ may be subject to a 10% federal tax penalty.

  2. Optional Rising Income Privilege is a Guaranteed Retirement Income Plan (GRIP) feature, that if selected at the time of application, provides for an annual increase in annuity income. An annual percentage increase can be chosen (1%, 2% or 3%) and set for the life of the GRIP contract. The amount of annuity income for a GRIP contract with this feature is less at the contract issue date than one without this feature; however, annuity income will increase every year by the chosen annual percentage for the life of the GRIP contract. In addition, the annual percentage is compounded annually, which means the amount of annuity income will be slightly greater each year as compared to the amount of annuity income that would result if the annual percentage was not compounded. Feature availability based on state and contract.

  3. Availability is based on state, contract and age. Financial Emergency Liquidity Rider: Form number ASI94834ST 10-11, ASI97662MN 10-11.

  4. Guarantees apply to certain insurance and annuity products and are subject to product terms, exclusions and limitations and the insurer's claims-paying ability and financial strength.

  5. As of June 1, 2025, A.M. Best: A++, Superior (highest of 16 possible ratings); Moody's Investors Service: Aa1, Excellent (second highest of 21 possible ratings); Standard & Poor's: AA, Very Strong (third highest of 21 possible ratings). Ratings are subject to change. Ratings apply to USAA Life Insurance Company and USAA Life Insurance Company of New York not to the products or services they provide. Company ratings represent an opinion of financial strength and the company's ability to meet ongoing obligations to policyholders. Ratings refer to the claims-paying ability of the insurance company and do not reflect the safety or performance of any product. The rating agencies listed are independent of each other and use proprietary evaluation criteria and ratings scales. For the latest Financial Strength Ratings, visit www.ambest.com, www.moodys.com and www.standardandpoors.com.

  6. For J.D. Power 2024 award information, visit jdpower.com/awards Opens in a New Window

Related footnotes:

  1. The trademarks, logos and names of other companies, products and services are the property of their respective owners.

  2. Fixed Indexed Annuity (FIA) material is not intended for residents of Idaho, North Dakota or Oregon.

  3. An annuity is a long-term insurance contract issued by an insurance company designed to provide a retirement income stream for life. Once the contract principal is converted into an income stream, you will no longer have access to your principal as a lump sum. Terms, conditions, limitations and surrender charges may apply.

  4. Fixed Indexed Annuity (FIA): Forms ICC2399755 06-23, ASP504431ST 07-23, ASP504389FL 07-23, ASP504351CA 07-23

  5. Fixed Guaranteed Growth (FGG): Forms ICC2398732 06-23, ASP98784CA 10-18, ASP98782ST 10-18, ASP98783FL 06-23, ASP98785ND 10-18, ASP98863SD 10-18, NSP98868NY 10-18

  6. Guaranteed Retirement Income Plan (GRIP): Forms ASI94832ST 10-11, ASI97207AK 10-11, ASI94878AR 10-11, ASI97208AZ 10-11, ASI94875CA 10-11, ASI97165CT 10-11, ASI97123IA 10-11, ASI97032ID 10-11, ASI94876IL 10-11, ASI97195KS 10-11, ASI97170MA 10-11, ASI94940MD 10-11, ASI94879MN 10-11, ASI94921MT 10-11, ASI94920NJ 10-11, ASI97268OH 10-11, ASI94877OK 10-11, ASI94941OR 10-11, ASI94922PA 10-11, ASI94833TX 10-11, ASI97124VA 10-11, ASI94874OS 10-11, NSI94897NY 10-11, NSI97130NY 10-11

  7. INDEX DISCLOSURE

    The "S&P 500®" is a product of S&P Dow Jones Indices LLC or its affiliates (“SPDJI”), and has been licensed for use by USAA LIFE INSURANCE COMPANY AND USAA LIFE INSURANCE COMPANY OF NEW YORK. Standard & Poor's® and S&P® are registered trademarks of Standard & Poor's Financial Services LLC (“S&P”); Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC (“Dow Jones”). It is not possible to invest directly in an index. USAA Fixed Indexed Annuity are not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, or any of their respective affiliates (collectively, “S&P Dow Jones Indices”). S&P Dow Jones Indices does not make any representation or warranty, express or implied, to the owners of the USAA Fixed Indexed Annuity or any member of the public regarding the advisability of investing in securities generally or in USAA Fixed Indexed Annuity particularly or the ability of the S&P 500® to track general market performance. Past performance of an index is not an indication or guarantee of future results. S&P Dow Jones Indices' only relationship to USAA LIFE INSURANCE COMPANY AND USAA LIFE INSURANCE COMPANY OF NEW YORK with respect to the S&P 500® is the licensing of the Index and certain trademarks, service marks and/or trade names of S&P Dow Jones Indices and/or its licensors. The S&P 500® is determined, composed and calculated by S&P Dow Jones Indices without regard to USAA LIFE INSURANCE COMPANY AND USAA LIFE INSURANCE COMPANY OF NEW YORK or the USAA Fixed Indexed Annuity. S&P Dow Jones Indices has no obligation to take the needs of USAA LIFE INSURANCE COMPANY AND USAA LIFE INSURANCE COMPANY OF NEW YORK into consideration in determining, composing or calculating the S&P 500®. S&P Dow Jones Indices is not responsible for and have not participated in the determination of the prices, and amount of USAA Fixed Indexed Annuity or the timing of the issuance or sale of USAA Fixed Indexed Annuity or in the determination or calculation of the equation by which USAA Fixed Indexed Annuity is to be converted into cash, surrendered or redeemed, as the case may be. S&P Dow Jones Indices has no obligation or liability in connection with the administration, marketing or trading of USAA Fixed Indexed Annuity. There is no assurance that investment products based on the S&P 500® will accurately track index performance or provide positive investment returns. S&P Dow Jones Indices LLC is not an investment or tax advisor. A tax advisor should be consulted to evaluate the impact of any tax-exempt securities on portfolios and the tax consequences of making any particular investment decision. Inclusion of a security within an index is not a recommendation by S&P Dow Jones Indices to buy, sell, or hold such security, nor is it considered to be investment advice.

    NEITHER S&P DOW JONES INDICES NOR THIRD PARTY LICENSOR GUARANTEES THE ADEQUACY, ACCURACY, TIMELINESS AND/OR THE COMPLETENESS OF THE S&P 500® OR ANY DATA RELATED THERETO OR ANY COMMUNICATION, INCLUDING BUT NOT LIMITED TO, ORAL OR WRITTEN COMMUNICATION (INCLUDING ELECTRONIC COMMUNICATIONS) WITH RESPECT THERETO. S&P DOW JONES INDICES SHALL NOT BE SUBJECT TO ANY DAMAGES OR LIABILITY FOR ANY ERRORS, OMISSIONS, OR DELAYS THEREIN. S&P DOW JONES INDICES MAKES NO EXPRESS OR IMPLIED WARRANTIES, AND EXPRESSLY DISCLAIMS ALL WARRANTIES, OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE OR AS TO RESULTS TO BE OBTAINED BY USAA LIFE INSURANCE COMPANY AND USAA LIFE INSURANCE COMPANY OF NEW YORK, OWNERS OF THE USAA Fixed Indexed Annuity, OR ANY OTHER PERSON OR ENTITY FROM THE USE OF THE S&P 500® OR WITH RESPECT TO ANY DATA RELATED THERETO. WITHOUT LIMITING ANY OF THE FOREGOING, IN NO EVENT WHATSOEVER SHALL S&P DOW JONES INDICES BE LIABLE FOR ANY INDIRECT, SPECIAL, INCIDENTAL, PUNITIVE, OR CONSEQUENTIAL DAMAGES INCLUDING BUT NOT LIMITED TO, LOSS OF PROFITS, TRADING LOSSES, LOST TIME OR GOODWILL, EVEN IF THEY HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES, WHETHER IN CONTRACT, TORT, STRICT LIABILITY, OR OTHERWISE. THERE ARE NO THIRD PARTY BENEFICIARIES OF ANY AGREEMENTS OR ARRANGEMENTS BETWEEN S&P DOW JONES INDICES AND USAA LIFE INSURANCE COMPANY AND USAA LIFE INSURANCE COMPANY OF NEW YORK, OTHER THAN THE LICENSORS OF S&P DOW JONES INDICES.

  8. Life insurance and annuities provided by USAA Life Insurance Company, San Antonio, TX and in New York by USAA Life Insurance Company of New York, Highland Falls, NY. All insurance products are subject to state availability, issue limitations and contractual terms and conditions. Each company has sole financial responsibility for its own products.

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