SPIA
Single Premium Immediate Annuity
Simple, Efficient, No-Fee lifetime income pension product. If you love your Social Security payments, you will love SPIAs.
Get your customized SPIA quotes using the best consumer annuity calculator available
Choose your lifetime income contractual guarantees from the best A+ or better carriers in the U.S.
SPIAs are a pension payment that you can never outlive.
Structure the lifetime income guarantees for either your life or a joint life.
Run a lump sum or solve for a monthly income amount.
Structure the policy so that any unused money will go to your listed beneficiaries...not the annuity company.
Do you need additional payments to add to your income floor?
Here are some of the key features you need to know about SPIA contractual guaranteed lifetime income.
- No annual fees. No moving parts.
- Lifetime income payments are primarily based on your life expectancy (or expectancies)
- SPIA income can start ASAP or can be deferred up to 1 year
- Interest rates play a secondary role in the pricing of the payments
- Quote all A+ or better annuity companies for the highest contractual guarantee
- SPIAs can be used in Traditional IRAs, Roth IRAs, Non-IRAs (Savings)
- You already own a SPIA; it's called Social Security
- Cost of Living (COLAs) increases can be contractually added to the policy
- SPIAs can be laddered for both purchase dates and start dates
- Create a contractual income legacy by adding your spouse to the policy
- There's NO ROI until you die. SPIAs are a pure transfer of risk, solving for longevity.
Learn about SPIAs Before You Sign Anything
The SPIA Owner's Manual is simple and easy to understand. Just the brutal SPIA facts with no sales pitch.
EVERYTHING to KNOW ABOUT SPIAs
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Frequently Asked SPIA Questions
Only if you structure the policy LIFE ONLY. Most SPIAs are issued with Cash Refund, Installment Refund, or Period Certain so that the listed beneficiaries receive 100% of any unused money.
Single Life provides a higher contractual payment because the annuity company is only guaranteeing payment for one life instead of two.
Yes. Annuity companies do NOT give away COLA (Cost of Living Adjustment) increases. Depending on your age, it’s typically a 7 to 9 year break-even point compared to the same SPIA without a COLA.
Because the annuity company is “on the contractual hook” to pay for as long as you are breathing. A+ or better carriers can easily back up those lifetime income guarantees.
SPIAs were first introduced in the Roman Times as a pension payment for the dutiful Roman soldiers and their family. SPIAs have been sold in the U.S. for over 200 years.
Because not one SPIA is better than the other when shopping for all A+ or better carriers. Names and brochures don’t matter. It’s A+ or better and the highest contractual number. It’s that simple.
Yes. We can lock in a quote for you.
Depending on the annuity company, that lock-in is good for 7-14 days.
Traditional IRAs, Roth IRAs, and NON-IRA accounts can all be used to purchase a SPIA.
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