A single premium immediate annuity (SPIA) is one of the simplest types of annuity contracts. With a SPIA, you make a single large deposit with an annuity company and your monthly payments begin...
Discover what a single premium immediate annuity (SPIA) is, how it works and its benefits. Learn about guaranteed income, taxes and payment options.
A single premium immediate annuity (SPIA) allows you to use a lump sum of your assets to purchase a guaranteed 1 "retirement paycheck".
What Is a SPIA? A SPIA (Single Premium Immediate Annuity) is a financial product that allows you to turn a lump sum of money into a stream of guaranteed income, typically beginning within 30 days of your contract being issued.
What Is a SPIA? A 2025 Guide to Single Premium Immediate Annuities
An immediate Annuity can give guaranteed income for life. Learn how our Single Premium Immediate Annuity (SPIA) can help you stress less and retire more.
With a single premium immediate annuity (SPIA), you’ll purchase an annuity with one large payment, and then the annuity will start paying you an income right away. An SPIA is simple to set up, but if your needs change, it can be difficult to alter your annuity’s pay schedule or withdraw funds early.
Learn how a Single Premium Immediate Annuity (SPIA) converts a lump sum into guaranteed monthly income for life or a set period. Compare rates and options.
A SPIA is funded with a single lump sum, which means that you should be prepared to fully fund your annuity all at once, since you will not be permitted to add to it later. A SPIA will typically begin to disburse payments immediately, though some options can delay payments for up to a year.