: Estimates how much your money will grow over time based on initial principal, periodic contributions, and an assumed interest rate.
Calculators typically fall into two categories based on your stage of planning:
: Estimates the monthly or annual income you will receive based on a lump-sum investment, your current age, and the payout period. Key Inputs You Will Need buying an annuity calculator
An annuity calculator is a digital tool designed to estimate either the future value of a savings pot or the guaranteed income a lump sum can generate in retirement. Because annuities are long-term insurance contracts, using a calculator is a critical first step in determining if the trade-off of liquidity for guaranteed income aligns with your goals. Core Functions of an Annuity Calculator
: Payouts can begin Immediately (within 12 months) or be Deferred to a future date. : Estimates how much your money will grow
: Whether you want a Fixed (guaranteed rate), Variable (market-linked), or Indexed (hybrid) product.
: Options include Life Only (stops at death), Period Certain (guarantees a set number of years), or Joint Life (continues for a surviving spouse). Annuity calculator | Sun Life Because annuities are long-term insurance contracts, using a
To get an accurate estimate, you must provide several variables: