SPIA

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Single Premium Immediate Annuities or SPIA’s – many people looking for income in today’s low interest rate environment are finding Immediate Annuities (SPIA’s) offer exceptional pay out alternatives. In addition, SPIA’s offer safety and tax advantaged income! SPIA’s either pay a guaranteed income for a specified period of time, or a lifetime income that you can not outlive. An Immediate Annuity can provide tax benefits by spreading out the tax liability of a large distribution from a Qualified Retirement Plan such as an IRA, 401 (k) etc. over a period of time. For our clients who have heir’s, many times they can use a portion of the increased annuity income to purchase ‘tax free’ life insurance. Thereby replacing a ‘taxable’ asset to your heirs – with ‘tax-free’ life insurance proceeds!

Call our office today to see if a SPIA has a place in your financial or retirement planning!