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Immediate Annuities
I. SPIA or Single
Premium Immediate Annuities -
is a return of income in exchange for
a lump sum invested. It can be used for a variety of reasons such
as:
- Immediately providing
retirement income for life or a certain period of time like 5, 10,
20 years.
- Providing your spouse or
children income if you were to pass unexpectedly.
- Consolidating assets in
exchange for income.
- Paying child support or
alimony payments.
- Funding specialized
education for a disabled child.
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