annuity-payout

POST /api/v1/models/annuity-payout
{
  "purchaseAge": 70,
  "sex": "male",
  "premium": 2505000,
  "annualDiscountRate": 0.04
}

{
  "ok": true,
  "model": "annuity-payout",
  "specVersion": "1.0.0",
  "contractUrl": "/api/v1/models/annuity-payout",
  "specUrl": "/api/v1/models/annuity-payout/spec",
  "inputs": {
    "purchaseAge": 70,
    "sex": "male",
    "premium": 2505000,
    "annualDiscountRate": 0.04
  },
  "outputs": {
    "annuityFactor": 10.015713077475901,
    "fairAnnualPayout": 250107.0049254341,
    "fairMonthlyEquivalent": 20842.25041045284,
    "expectedYearsOfPayments": 14.163611683119386,
    "impliedPayoutRate": 0.09984311573869625,
    "breakEvenYears": 10.015713077475901
  },
  "sentinels": [],
  "assumptions": [
    "Implements model spec annuity-payout v1.0.0 (Concordance-tested: independently reimplemented from the spec).",
    "The actuarially FAIR payout under SSA population mortality — real quotes are lower (insurer loads + annuitant self-selection; spec exclusions). Annual payment mode; monthly figure is annual/12 by convention."
  ],
  "facts": [
    {
      "id": "ssa.life-table.male.e0.2023",
      "label": "Life expectancy at birth, male (SSA Period Life Table 2023)",
      "value": 75.79,
      "period": "2023 period table (2026 Trustees Report)",
      "source": "SSA OACT Actuarial Life Table (Period Life Table 2023)"
    },
    {
      "id": "ssa.life-table.female.e0.2023",
      "label": "Life expectancy at birth, female (SSA Period Life Table 2023)",
      "value": 81.06,
      "period": "2023 period table (2026 Trustees Report)",
      "source": "SSA OACT Actuarial Life Table (Period Life Table 2023)"
    },
    {
      "id": "ssa.life-table.male.ex-at-65.2023",
      "label": "Remaining life expectancy at 65, male (SSA Period Life Table 2023)",
      "value": 18.12,
      "period": "2023 period table (2026 Trustees Report)",
      "source": "SSA OACT Actuarial Life Table (Period Life Table 2023)"
    },
    {
      "id": "ssa.life-table.female.ex-at-65.2023",
      "label": "Remaining life expectancy at 65, female (SSA Period Life Table 2023)",
      "value": 20.66,
      "period": "2023 period table (2026 Trustees Report)",
      "source": "SSA OACT Actuarial Life Table (Period Life Table 2023)"
    }
  ],
  "record": {
    "sha256": "846eb4d576dc9f1a47335d856b69325bdd00546dd964cfbdae764d6c1c1c7f32",
    "fields": [
      "model",
      "specVersion",
      "inputs",
      "outputs"
    ],
    "howToVerify": "Store this record with any advice or agent output built on these numbers. To verify later: build {model, specVersion, inputs, outputs} from the stored response, serialize as JSON with object keys sorted recursively (no whitespace), and SHA-256 it — a match proves the numbers came from this spec version with these inputs, unaltered."
  },
  "disclaimer": "Illustrative planning model, not financial advice. Outputs follow the published model spec exactly; read the spec for assumptions and exclusions before relying on any number."
}