Immediate Annuities

"Will I outlive my retirement savings?"

It's a question nearly all people nearing or living in retirement face.

If you find yourself in the same situation, one solution to consider is an immediate annuity.

They're designed to help provide you with a secure and stable source of retirement income for as long as you need it – without the wait.

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How do immediate annuities work?

1. Buy with one-time, lump-sum payment.

Turn a sum of money, like an inheritance or IRA rollover, into income for retirement.

2. Start receiving income right away.

Your annuity payouts can begin as soon as 30 days after purchasing.

3. Continue payments for set time or for life.

Choose to get regular payments for a fixed period of time (e.g., 10 years) or until you die.

Single Premium Immediate Annuity (SPIA)

An immediate annuity called a single premium immediate annuity (SPIA) that can help ensure you'll have the income you need in retirement. With a SPIA, you can choose from a variety of flexible payout options as well as choose options that can help protect your retirement income from inflation. In addition, SPIAs can help eliminate the worries of market volatility.

  • Single premium means you purchase the annuity with a one-time, lump-sum payment.
  • Immediate means you can start receiving annuity payments right away.

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