What is a SPIA (Single Premium Immediate Annuity)?

An Immediate Annuity

This gives you access to a stream of income immediately after you purchase it. Most immediate annuities have a unique feature. They do not give you access to your money once it is annuitized.

There is one carrier that is out there that will allow you to access up to 90% of the value of the payment stream. Fill out our form and we will introduce you to one of our financial advisors that can help direct you to the best solution, NOT just a product.

A Single Premium Immediate Annuity “SPIA” 

This may be the right annuity for you. Are you looking for payments that begin right away? How about payments that continue for the rest of your life? Or payments that continue for a specified period of time? How about both? The annuity is purchased from an insurance company with a single, lump sum. This lump sum is called a premium.

In return for your lump sum, the insurance company makes a promise. They agree to make regular payments to you or to a specified payee. This may last for the remainder of your life. You may also agree to a particular period of time. You can choose a period of certainty. Many insurance carriers will have “10 year period certain”.

These carriers guarantee the same payment amount for at least 10 years. If you pass away before the 10 years is reached, they will give the remaining payments to your beneficiary.