Single Premium Deferred Annuity
A traditional annuity in which you earn a guaranteed interest rates for 3, 5, 7, or 10 years.
After the guaranteed period you may withdraw the funds, start receiving monthly payouts, or
start another guaranteed period. The plan is issued for ages 0-90.
Single Premium Immediate Annuity
With this annuity you make one premium payment when the annuity is purchase and start
receiving monthly payout for 3, 5, 7, or 10 years. The monthly payout is set when the
annuity is purchased and cannot change after that.
This is flexible annuity to which you can add funds over time. The interest rate you will
earn changes over time, but will never by lower than 3%. You can withdraw the funds at any
time without any penalties. The maximum initial amount is $5,000 and the total contributions
cannot exceed $10,000.