Single Premium Immediate Annuities

But before you purchase a single premium immediate annuity it is recommended that you learn how they work so that youll know what you can and cant anticipate going forward.

Single premium immediate annuities. Annuity Examples Single Premium Immediate Annuities. A single premium immediate annuity is the only type of immediate annuity. To be classified as an immediate annuity an annuity contract must begin to make payments within 12 months from initial contract date.

You should buy a SPIA if you want the benefit of tax-deferral and the security of a pension-like income stream in retirement that begins within a year of your purchase. A single premium immediate annuity provides a guaranteed stream of income for a specified period of time. BetterLifes Advantage 40 Annuity is a single premium immediate annuity.

When you assessed your financial needs you should have determined whether you wanted your payments to begin within a year of purchase in which case an immediate annuity is the solution for you or at a later date. From insurance proceeds to retirement payouts a single premium immediate annuity can turn a lump sum of money into a predictable stream of income. An Immediate annuity or SPIA sometimes also called an income annuity single-premium immediate annuity or payout annuity is a long-term annuity contract between individuals and insurance companies.

However Single Premium Immediate Annuities actually carry very high costs themselves that can rival or exceed those of their cousins -- they just dont call them fees or commissions. If youre looking for a way to convert a lump-sum of money into an immediate stream of income then BetterLifes Advantage 40 Annuity may be the right fit for you. Multi-Year Guarantee Annuities MYGA A Deferred Annuity is a single-premium annuity which grows at a fixed rate for a predetermined amount of time very similar to CDs.

The SPIA immediately begins paying you back your purchase price plus a. American National immediate fixed annuities can provide a steady stream of income payments to help meet your needs and you can choose a payment schedule that. Keep More of What You Make You can make your tax liability more manageable by spreading your income over time.

How Single Premium Immediate Annuities. What Is An Immediate Annuity. You pay them a sum of money up front known as a premium and They promise to pay you a certain amount of money periodically monthly for instance for the rest of your life.