A Single Premium Immediate Annuity (SPIA), out of all of the annuities that we have talked about, is the one that is most insurance-like of all annuities. As we discussed before an annuity protects you from running out of income, or money, before you die. When you buy a single premium immediate annuity you are protecting yourself by assuring yourself a source of income for the rest of your life.
Posts Tagged ‘fixed annuity’
more...Annuities: Flexible or Single Premium Annuity
May 23rd, 2010 by Your Insurance Advisor
Annuities create income security for consumers by providing guaranteed income for life, or for a predetermined period of time. This period of time is set at the time of purchase in the annuity contract between the purchaser and the insurance company. The money used to fund the annuity purchase is called the premium. When the [...]
Annuities: What is An Income Annuity?
May 22nd, 2010 by Your Insurance Advisor
Consumers purchase annuities to protect themselves from running out of income during their lifetime. When selecting an annuity care should be taken to decide at what point in time that income is desired. There are two possible choices for consumers to make: Immediate or Deferred.
Variable Annuities: What is a Variable Annuity?
May 21st, 2010 by Your Insurance Advisor
A variable annuity is a type of annuity that resembles a mutual fund. A variable annuity provides a consumer with some of the safety that a regular annuity provides, but offers a rate of return that can vary dependent on what happens in the market.
Fixed Annuities: What is a Fixed Annuity?
May 19th, 2010 by Your Insurance Advisor
The fixed annuity is similar to a bank CD or Certificate of Deposit. The fixed annuity buyer is assured a guaranteed rate of return for a specific period of time, or term. In the majority of cases, the longer the term, the higher the rate of return.
Annuities: What is an Annuity?
May 17th, 2010 by Your Insurance Advisor
An annuity is an insurance product that helps consumers protect themselves against living too long. In effect, it works as the opposite of a life insurance policy which protects you from living too little. An annuity guarantees the annuity owner a fixed amount of income for as long as they live.
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