Single Premium Immediate Annuities
A Single Premium Immediate Annuity (SPIA) can be a more predictable option for retirement planning because of its consistent structure. After a lump sum premium is paid up front, this annuity pays out a set amount on a regular basis (such as monthly) for the rest of the client’s life and/or a set period of time.
Help make retirement planning easier.
Why Agents Offer Single Premium
Immediate Annuities
Pension Like Income –
SPIA, is a great option for people who seek guaranteed periodic payments in the form of an income stream. Your clients may buy a SPIA if they want the benefit of tax-deferral and the security of a pension-like income stream in retirement that begins within a year of purchase.
Income Flexibility –
SPIA provide multiple periodic payment options for clients. Choose a guaranteed period of time as short as one year to having a pension like income stream for the life of the owner and the life of their spouse.
Higher Withdrawal Rates –
SPIA will allow clients to take payments from their funds safely at a higher withdrawal rate than other traditional savings vehicles. This makes retirement planning easier in the same way traditional pensions do: they’re predictable.
How To Get Started
If you decide to offer Single Premium Immediate Annuities, we recommend talking to someone from the Premier team of experts. They’ll provide answers to your questions, and have tools available to support your new product offering.
Give us a call today and ask for an Annuity Specialist: 800-365-8208.