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Okay, so let's talk about single premium immediate annuity's acronym, SPIA, S-P-I-A. They are the oldest annuity type on the planet and were introduced in Roman times as a pension gift, a lifetime income stream gift to the dutiful Roman soldiers and their families for laying it on the line for the empire.

Deferred Income Annuities (DIAs) are continuing to grow in popularity because they are a personal pension plan with you determining when the payments start.

It’s kind of sad that the annuity category is experiencing somewhat of a renaissance during this Coronavirus crisis. It kind of makes sense that contractual guarantees become a little more attractive when the future is a tad hazy and unpredictable. In addition, stock market volatility always makes people reassess the overall risk in their portfolio.