SPIA

SINGLE PREMIUM IMMEDIATE ANNUITY

ApplicationAnnuity AdvantagesAnnuity Terms


Below are some of the key features of any annuity policy:

To learn more about annuities you can visit the Texas Department of Insurance website.


Guaranteed Interest Rate

The interest you earn on the annuity is either fully guaranteed or has a minimum guaranteed rate that can increase over time.

When the interest rate is fully guaranteed (like in the immediate or deferred annuities) you will earn an interest on the annuity that will never change, even if the interest rate in the market changes.

When there is a minimum guaranteed interest rate (like in the Savings Annuity) the rate will never be lower than the guaranteed rate (3% per year in the case of the Savings Annuity) but may increase if the market conditions allow it.


Tax-Deferred Growth

In an annuity, the interest your earn is not taxed until the time you withdraw the funds from the annuity. That deferral of taxes allows your total annuity balance to grow faster compared to none tax-deferred with the same return.

Note: There are no tax advantages to purchasing a fixed annuity in IRAs, 401(k)s or other similar retirement savings vehicles.


Probate Avoidance

Annuity proceeds paid to the beneficiaries upon the investor’s death are excluded from probate on their estate.


Judgement Protection

In most states in the United States an annuity is protected from judgement. That means that the annuity balance cannot be used to pay the judgement against you.


Each annuity has different terms, payments options, and other limitations. Make sure you understand the annuity you purchase. If you have any questions, give us a call at (855) 966-1111.
Below is a description of the main terms of the Savings Annuity. Please note that these are not the complete and full annuity terms. Full description is included in the annuity policy.

Click here to view a sample of the Single Premium Immediate Annuity policy.


Guaranteed Interest Rate

At the time of purchasing the annuity you will select a term – either 3, 5, 7, or 10 years – during which the interest rate your funds will earn will be guaranteed. This rate cannot change even if market conditions change.


Guaranteed Monthly Payment

You will start receiving monthly payments from your annuity a the time you select (within the first year after purchase.) The monthly payment amount will be set at the time your purchase the annuity and depends on the term during which you want to receive the monthly payments. This term can be 3, 5 7, or 10 years.

The monthly payment cannot change for any reason even if the market conditions and interest rates change.


No Change to Payment Schedule

Once the annuity was purchase (and after the 30 days free look period) the payment schedule cannot be changed and funds cannot be withdrawn from the annuity earlier than scheduled.


When selecting the best annuity for you make sure you fully understand the term of each annuity. While annuities have many advantages, they may have early withdrawal fees and other restrictions.

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