A Single Premium Immediate Annuity converts a single lump-sum premium into a stream of guaranteed income payments that begin within 12 months of purchase. Income can be structured for life or a set period.

How much income does a SPIA provide?

SPIA income depends on your age, gender, premium amount, state, and the payout option selected. A 65-year-old male with $250,000 can expect approximately $1,400-1,600 per month with a life with 10-year certain option.

Can you get your money back from a SPIA?

Once annuitized, the premium is generally irrevocable. However, options like period certain or return of premium provide some beneficiary protection. Life-only provides the highest income but no refund.

Are SPIA payments taxed?

For non-qualified SPIAs, each payment is partially a return of premium and partially taxable income. For IRAs, payments are fully taxable as ordinary income.

Immediate Annuity Rates — SPIA Quotes & Income Comparisons

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What is a SPIA?

A Single Premium Immediate Annuity converts a lump sum into guaranteed income payments starting within 12 months. Income for life or a set period.

Income Options

Life only (highest payout), life with period certain, joint and survivor, or period-certain only. Each option balances income vs. beneficiary protection.

Key Considerations

Income is based on interest rates at purchase, your age, and the payout option. Once annuitized, the premium is generally irrevocable.

Deferred Income Annuities

Want guaranteed income starting in the future? Explore DIA and QLAC options.

MYGA Rates

Compare guaranteed fixed rates if you prefer asset growth before annuitizing.

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Immediate Annuity Rates — SPIA Quotes & Income Comparisons

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