Annuities
Turn a lump sum into guaranteed income — starting now.
A SPIA converts a single premium payment into a guaranteed income stream that starts within 30 days. It's the simplest annuity there is: you give an insurance company a lump sum, and they pay you a guaranteed amount every month for life (or a set period).
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At a Glance
Single Premium Immediate Annuities (SPIA) — the essentials.
Income Start
Within 30 days of purchase
Payment Options
Lifetime, joint life, or period certain
Principal Access
None — payments are irrevocable
Best For
Retirees who want guaranteed monthly income
Who Is This For
Is single premium immediate annuities (spia) right for you?
- Recently retired business owners who need to replace their business income
- Anyone who wants a guaranteed paycheck for life
- People who worry about outliving their savings
- Retirees who want to simplify — one check, every month, no decisions
For Texas Business Owners
If you've just sold your business or are stepping back from daily operations, a SPIA creates an immediate pension-like income stream. It replaces the paycheck your business used to provide — with the certainty that it will never run out.
Honest Assessment
When it works — and when it doesn't.
We're a fiduciary. That means we tell you when a product isn't right for you.
● When it makes sense
- You need guaranteed income starting now or very soon
- You've sold your business and want to convert proceeds to a pension
- You want to cover essential expenses (housing, food, healthcare) with guaranteed money
- You're healthy and expect to live a long time — longevity is your biggest financial risk
● When it doesn't
- You might need the lump sum back — SPIAs are irrevocable
- You're not yet retired and don't need income for years
- You want growth potential — a SPIA is pure income, no accumulation
- You have health issues that significantly shorten life expectancy
Common Questions
What you're probably wondering.
Can I get my money back from a SPIA? +
Generally no — SPIAs are irrevocable. Once you purchase one, you receive guaranteed payments but can't withdraw the lump sum. That's why we recommend only annuitizing the portion of your savings needed to cover essential expenses, not your entire portfolio.
What happens if I die early? +
It depends on the payout option you choose. A 'life only' SPIA pays the highest monthly amount but stops at death. A 'life with period certain' guarantees payments for at least a set number of years (10, 15, 20) — if you die early, your beneficiary receives the remaining payments. We'll help you choose the right structure.
How much income will I get? +
Payout rates depend on your age, gender, interest rates at purchase, and the payout option. A 65-year-old might receive roughly 6–7% of their premium annually as lifetime income. We'll get quotes from multiple carriers to find the best rate.
Is SPIA income taxed? +
Part of each payment is a tax-free return of your principal (the exclusion ratio), and part is taxable as ordinary income. If purchased with pre-tax money (like an IRA), the entire payment is taxable. We'll model the tax impact for your situation.
Industry Insights
See how this applies to your industry.
Ready to find the right single premium immediate annuities (spia)?
30-minute conversation. No pressure. We'll look at your specific situation and find the best option across 40+ carriers.