Annuity is an important consideration for anyone with financial responsibilities. Depending on the size of the investment, location, economic conditions, and cost of living, the cost of an annuity can fluctuate greatly. The average cost of an annuity is about $7,500 per year. The annual cost may range anywhere from $5,000 to $30,000. Consult with a financial expert with your specific details to gain a more precise representation of your individual case.