What Does An Immediate Annuity Cost? 
The `` cost '' of an immediate annuity is exactly the amount you put into it . Generally , any annuity costs are already figured into the payout you will receive . Insurance companies offer different minimums and maximums and that varies considerably . Some companies allow as little as $ 5000 . With an immediate annuity , you give your retirement savings to an insurance company and they promise to pay out a monthly or annual amount for the rest of your life or for a fixed period . You can choose a joint annuity which would continue the payout to your spouse after your death . The amount of income generated from your immediate annuity will depend on the type of annuity -LRB- such as fixed or variable -RRB- , your age , sex and marital status . 