SPIA’s are Single Premium Immediate Annuities. These can provide an income stream immediately (within one year) after the contract is issued.


Monthly payments are determined by the amount of the premium that was paid, the age(s) of the annuitant(s), current interest rates and the income period that was selected in the contract (the rest of your life or a specified period of time).


Tax deferred premiums with safety of principal

No need to watch markets or interest rates

A stable lifetime income (monthly, quarterly or yearly) that cannot be outlived


An irrevocable decision between you and the insurance company and cannot be voided

If you have a fixed rate of interest lower than the rate of inflation, your money is not working for your benefit

Unless an annuitant names a beneficiary, the remainder goes to the insurance company upon an annuitant’s death