Predictable Income, Predictable Future with a SPIA

Consumers often want to remove uncertainty from financial investments. Equities may offer the potential for growth but they also risk loss. For those who desire predictable income a Single Premium Immediate Annuity, or SPIA, may be the ideal solution. Steady income, sometimes until death, without the risky downside side of investing.

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Many investors have a lump sum of cash they are looking to invest and want a steady stream of income in return. SPIA is the financial instrument for this situation. Usually issued by insurance companies, SPIA is a unique financial tool that guarantees a steady monthly income from the annuity. However, the initial premium is never returned. Instead, the SPIA pays monthly income until the time of the purchaser’s death after which the premium is kept by the insurer.

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Flexibility and a wide range of options in SPIAs mean they can be set up as an inidividual or a joint product in which case the payments continue until both die. A rider may also be added to guarantee payment for a minimum period (i.e. 5, 7, or 10 years.) Income payments are based upon premium, interest rates, and age of the purchaser.

Single Premium Immediate Annuity with Life Marketers

Insurance agents and financial professionals rely upon Life Marketers for annuities and for insurance products. Our knowledgeable team of professionals is always available to advise on the best solution for clients whether it’s a SPIA or life insurance. We can help with a complete portfolio of annuities, life insurance, LTC, and disability. Our team is ready to respond and help build the best solution for your clients.

Need to discuss annuity options for your clients? Contact Life Marketers and let us show you how we can help you succeed.