Single Premium Immediate Annuity (SPIA)
Single Premium Immediate Annuity (SPIA) is an insurance contract providing a stream of income payments for the annuitant’s life or for a specific period of time. Any guarantees are based on the claims paying ability of the issuing insurance company.
Single Premium Fixed Immediate Annuity is an excellent source of retirement income for people who:
- Are worried about outliving their assets
- Have taken a lump sum distribution from a qualified retirement plan
- Want a steady source of cash to help pay long-term care or life insurance
- Want to provide a lifetime income for a dependent
- Wish to replace rental property income with another source of income
- Need regular payments of a fixed amountNote: Income received is subject to taxation at ordinary income tax rates.Let us Help You Navigate Your Annuities Options!
Consult with a professional Midwest Senior Select, Inc. representative for your Single Premium Immediate Annuity needs at:
262 241-3662 or 1-800-251-3662
Please complete the following form, and submit your information. You will be contacted by one of our authorized licensed Life and Annuity insurance representatives to answer any questions and give you comparison quotes with several Annuities insurance companies.
Get Peace of Mind!