Single Premium Immediate Annuity Advantages
What Are The Disadvantages And Advantages Of Single Premium Immediate Annuities?
This website has already discussed some advantages of immediate annuities for retirement savings. However, some time and passed and the economy has changed. I decided it would be worthwhile to re-visit the topic.
I also wanted to point out this single premium immediate annuity calculator you can use for free.
For this discussion, we are talking about fixed, single premium retirement annuities. Please understand that contracts can differ wildly, and it is up to you to discuss the details with a professional. However, we will narrow down our thoughts to annuities with the following characteristics.
Categories: Annuities Tags: annuiies, immediate annuity, single premium annuity
Immediate Annuities for Retirement Planning
What Are Immediate Annuities?
We are discussing something called single premium immediate annuities (SPIA). In return for one large, lump sum payment, the contract will start payout out a regular income right away. Actually, in some cases, that payment can be deferred. As we learn more about annuities, you find there are lots of choices and variables like that. But for now, consider purchasing your fund with one lump sum payout, and then getting regular payouts as income from that investment.
(Note: We also published this article: Explain Annuities)
Categories: Annuities Tags: annuity, fixed annuity, immediate annuity
