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Immediate Annuity

Immediate Annuities

If you’re looking for payments that begin right away and continue for the rest of your life or for a specified period of time, a Single Premium Immediate Annuity (sometimes called an “SPIA”) might be right for you.  You buy an immediate annuity with a single, lump sum amount.  In return for your one-time premium, the insurance company promises to make regular payments to you (or someone else you specify) for a chosen length of time or, most commonly, for the rest of your life.

Why consider an Immediate Annuity?

  • Secure — Stable and guaranteed income.  If you’re at all worried about outliving your savings, this may be a great option for you.
  • Simple & Safe — With an immediate annuity, you do not need to watch markets or track interest rates and dividends.  Just collect your regular payments.
  • Higher Returns — Interest rates used by insurance companies to calculate immediate annuity income may be higher than CD or Treasury rates.
  • Preferred Tax Treatment — An immediate annuity may be a good strategy to help defer taxes until later in your retirement when you may be in a lower tax bracket. (Other types of annuities “front load” taxes)
  • No Sales or Administrative Charges — Immediate annuities generally do not have annual account management or maintenance charges.  In other words, 100% of your premium goes toward your monthly income and finds its way back to you!

To find out more about this amazing financial product and talk with an experienced professional about which annuity is best for you, call 800-442-9899 or click the Get Started button.  

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