SPIA Owner's Manual
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SPIA Owner's Manual
We all love classic cars like the 1957 Ford Thunderbird, or the 1955 Chevrolet Corvette. Classic music is also timeless, and when it comes to annuities, older is better as well. Single Premium Immediate Annuities (SPIAs) date back to the Roman Times and have been used for over 2 centuries in the United States as the most efficient way to guarantee income.
In the wild wild west of unregulated annuity sales pitches for one size fits all high commission products like indexed and variable annuities, most agents all but ignore SPIAs. This is a tragic advisor mistake, because Single Premium Immediate Annuities are still the best and most efficient solution for “income now†needs.
SPIAs easily fall under the category of “an oldie, but a goodie†because they are easy to understand, transparent, and simplistically efficient. Complex annuity types will continue to come and go, but SPIAs will always be the foundation of the annuity category.
Lifetime income. Risk Transfer. Contractual Guarantees. Single Premium Immediate Annuities. SPIAs!
