Financial
Guaranteed Income – Lowest Interest Rates
Single premium immediate annuity (SPIA)
Sometimes your financial objective is crystal clear, like looking through a good telescope at the moon. And when that goal is income, and only income, a single premium immediate annuity might be just the answer.
A single premium immediate annuity is a good fit for people who are:
- Focused on guaranteeing an income stream
- Looking to cover their basic costs like living expenses
- Worried about market volatility or losing their money
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
You cannot lose money in a SPIA, it is a guaranteed contract that isn’t affected by market risk.
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 AuguStarSM
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 are issued by AuguStarSM Life Insurance Company. Guarantees are based on the claims-paying ability of the issuer. Maximum issue age is 90.
Early withdrawals may be subject to surrender charges. Withdrawals may be subject to ordinary income tax and, if taken prior to age 59½, a 10% federal tax penalty may apply. Fixed annuities are not insured or guaranteed by the FDIC or any other government agency.
Products, product features, and rider availability vary by state. Issuer not licensed to conduct business in NY.
