Immediate Annuities Income payout rates as of 05/08/2023 are subject to change in the future.
Check out current pricing per $100,000 of premium for Single Life Income, Joint & Survivor Income and Fixed Period ONLY income payouts.
Shop That SPIA – Immediate Annuity pricing can vary widely.
Why trust just one source with a choice that will last a LIFETIME?
Since 1996 I have been wholesaling immediate annuities daily.
Options, payout timing, carrier quality and pricing can vary by 25%. Age, state of residence and other factors are used in pricing payments.
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HOW CAN AN IMMEDIATE ANNUITY HELP PEOPLE AGES 60 -75?
An immediate annuity is a financial product that can provide a reliable source of income for people in retirement. For individuals aged 60 to 75, an immediate annuity can provide several benefits, including:
Guaranteed income: With an immediate annuity, the individual pays a lump sum to an insurance company, which then guarantees a fixed payment for the rest of their life or for a set period of time. This can provide a stable and predictable source of income, which is particularly important for those who are retired and no longer earning a regular paycheck.
Protection against market fluctuations: With an immediate annuity, the individual does not have to worry about market fluctuations affecting the value of their investments. Instead, they receive a fixed payment regardless of what happens in the market.
Inflation protection: Many immediate annuities offer inflation protection, which means that the payment amount can increase over time to keep pace with inflation. This can be important for those who are concerned about the rising cost of living.
Peace of mind: Knowing that they have a reliable source of income can provide peace of mind for retirees, allowing them to enjoy their retirement without worrying about financial concerns.
Overall, an immediate annuity can be a useful tool for individuals aged 60 to 75 who are looking for a reliable source of income in retirement. However, it's important to carefully consider the terms and conditions of any annuity before making a purchase, as there may be fees, restrictions, or other factors to take into account. Consulting with a financial advisor can be a helpful way to determine whether an immediate annuity is the right choice for your specific financial situation.
Thinking of a using SPIA's?
Are you aware of all the beneficiary and refund options? Cash refund, period certain and others are available.
Do you know what an exclusion ratio is? Non-qualified payments may also include a tax exclusion ratio since part of the payment is a return of premium.
Do you understand commutation? How it works? How long it is available? How expensive it is to use? Liquidity in an immediate annuity can be complicated and varies by carrier.
In need of guaranteed lifetime income? An immediate annuity should be one the list of products. Just make sure it is the right immediate annuity.
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Immediate annuities are insurance products and guaranteed by the claims paying ability of the insurance carrier issuing the contract.
Feel free to reach out with any Immediate Annuity questions.
Jeff Affronti
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