Single Premium Immediate Annuities (SPIA)

A Single Premium Immediate Annuity is a contract between you and the insurance company where you give the insurance company a lump sum of money (Single Premium) and in return the give you a guaranteed payment for a specified time period or until you or your and your spouse dies.

The purpose of a SPIA is to provide you with a guaranteed income stream. During retirement market fluctuation of principal, "market risk", and varying interest rates, "interest rate risk" leads to uncertainly of future income. A SPIA "REDUCES THE RISK" and provides certainty, peacing of mind, in providing a income you can count on!

Payment Options - Generally Available
Annuity payments are available monthly, quarterly, semi-annually or annually. They may begin immediately, or they may be deferred for up to one year from purchase. You may choose any one of the following annuity payment options:

  • Payments for life (single life annuity):
    Annuity payments are made as long as the annuitant is still living. Annuity payments stop upon the annuitant?annuitant's death, even if that occurs shortly after the annuity payments begin - no matter how many or how few annuity payments have been made.

  • Payments for two lives (joint and survivor annuity):
    Payments for two lives (joint and survivor annuity). Annuity payments are made as long as either of the two joint annuitants is still living. Annuity payments can remain level or be reduced upon the death of one of the annuitants. Annuity payments stop upon the surviving annuitant's death, even if that occurs shortly after the annuity payments begin - no matter how many or how few annuity payments have been made.

  • Certain Period:
    Certain period. Annuity payments are made for a period specified by the owner, from five to 30 years. Annuity payments continue until the end of that certain period, regardless of whether an annuitant is still living.*

  • Payment for life or for two lives, with a certain period:
    Annuity payments are made as long as an annuitant is still living, or for a certain period specified by the owner, whichever is longer.*
  • Payments for life with or for two lives, with an installment refund:
    Annuity payments are made as long as an annuitant is still living, or until the entire purchase amount has been paid out in the form of annuity payments, whichever is longer.*

  • Payments for life or for two lives, with a cash refund:
    Annuity payments are made as long as an annuitant is still living. When no annuitant is still living, any remaining purchase amount will be paid in a lump sum. The remaining purchase amount, if any, will be the amount of the original purchase payment less all annuity payments that have been made.
* When no annuitant is still living, the owner (or the beneficiary if the owner is no longer living) may elect to terminate the contract and receive the commuted value, as defined in the contract, of any remaining annuity payments in a lump sum. The commuted value of any remaining annuity payments will be less than the total of those remaining annuity payments.


List of SPIA Products that We Track

We can add your proprietary products to our customized annuity banking platform.
Let us support your internal sales and competition desk. Call us for a demo today!
Allianz Life Insurance Company of North America
Single Premium Immediate Elite Annuity
American Equity Investment Life Insurance Company
SPIA-1
American General Life Insurance Company
AG Platinum Income
American National Insurance Company
Palladium (SPIA)
EquiTrust Life Insurance Company
Confidence Income
Fidelity & Guaranty Life
FG Immediate-Income
First Symetra Nat’l Life Ins Co of NY
First Symetra Advantage Income
Freedom Income
Genworth Life Insurance Company
SecureLiving® Income Provider
Genworth Life of New York
SecureLivingSM Income Provider NY
Guggenheim Life and Annuity Company
Provider Single Premium Immediate Annuity
ING Annuity and Asset Sales
ING SPIA
Integrity Life Insurance
Income Source
Lincoln Benefit Life
IncomeReadySMSPIA
Lincoln Financial Group
Lincoln SmartIncome Inflation Annuity
Minnesota Life
Income Today
National Integrity Life Insurance
Income Source
National Western Life
SPIA
North American Company
NA Income
Presidential Life
Single Premium Immediate Annuity
Single Premium Immediate Income
Protective Life Corporation
ProPayer Income Annuity
Sagicor Life Insurance Company
Gold Series SPIA
SBLI -Savings Bank Life Insurance of MA
Single Premium Immediate Annuity
Symetra Life Insurance Company
Advantage Income
Freedom Income Annuity
The Hartford
Hartford Income Annuity
The Standard
Tailored Income Annuity
Western National Life Insurance Company
WNL Secure Income Annuity

Don't see a product you'd like us to track? Let us know, we'll add it!