- Focused on guaranteeing an income stream
- Looking to cover their basic costs like living expenses
- Worried about market volatility or losing their money
A single premium immediate annuity is a good fit for people who are:
Simply put:
A SPIA is not designed for growth, but instead takes your investment of money and turns it into an income stream.
There are a variety of ways you can decide to have income paid to you, and one of the most popular is to choose a lifetime income that you’ll receive no matter how long you live. Even your spouse can be covered!
Key benefits of a SPIA
Income
There are several different ways that you can have income provided to you, and even your spouse, so that you get the money you need for your specific purposes.
Safety
You cannot lose money in a SPIA, it is a guaranteed contract that isn’t affected by market risk.
Legacy planning
Some options will provide a payout to your beneficiaries, or “loved ones,” in the event that you pass.
Do your homework
Comparison is a good idea
There are several options for how your SPIA can provide you with income, so make sure you consider all of your options and choose the approach that makes the most sense for you.
An AuguStar SPIA
Now that you understand why a single premium immediate annuity may be right for you, consider why AuguStar Retirement has some of the best options available for you to choose from. Your financial professional can show you a custom illustration that shows how your income could be paid to you with an AuguStar SPIA.
Annuities issued by AuguStar Life Insurance Company, member of Constellation Insurance, Inc. family of companies. Product, product features and rider availability vary by state. Guarantees are based on the claims-paying ability of the issuer. Issuer not licensed to do business in New York. Maximum issue age is 90.
Fixed annuities are not insured or guaranteed by the FDIC or any other government agency.