Single premium immediate annuities
A single premium immediate annuity, or SPIA, may be ideal if you’re looking for a retirement income solution that you can't outlive. It can provide income that isn’t affected by changing interest rates or market fluctuations, and lets you determine whether you’ll receive a guaranteed income for a set period of time, for life or for a combination of the two.
Single premium immediate annuity features:
- Income solutions can last for your lifetime, or the combined lifetimes of you and your spouse
- Income can be provided for the period of time you choose, from 5 years to 40
- Payments can continue to your loved ones, depending on the options you select
- A cost of living adjustment can increase income by 1-5% each year to account for possible future inflation
Single premium immediate annuities offer:
You can choose when to start receiving income, the duration of income payments and potentially provide income for your lifetime and a spouse’s lifetime.
An optional cost of living adjustment feature increases income payments annually to help protect against inflation.
Your annuity’s income isn’t affected by changes in interest rates or the financial markets.
