What Will an Immediate Annuity Pay?
A Single Premium Immediate Annuity (sometimes referred to as an “SPIA”) may be the right annuity for you if you are looking for payments that begin right away and continue for the rest of your life or for a specified period of time.
What are the pros and cons of single premium annuities?
Single premium immediate annuities (SPIAs) are purchased with a lump sum of money and offer a guaranteed source of income for retirement. SPIAs are not always right for a person.
How are the different types of annuities funded?
The payment might be invested for growth for a long period of time—a single premium deferred annuity—or invested for a short time, after which payout begins—a single premium immediate annuity. Single premium annuities are often funded by rollovers or from the sale of an appreciated asset.
