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Turn Your Savings Into
Guaranteed Lifetime Income

A Single Premium Immediate Annuity (SPIA) gives you reliable, predictable payments for life starting now.

If you’re retiring and want to convert your savings into a steady paycheck, free from market risk, an SPIA is one of the safest, smartest ways to create financial security.

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What is a Single Premium
Immediate Annuity (SPIA)?

A SPIA is a contract with an insurance company that guarantees you a stream of payments in exchange for a one-time lump sum.

Unlike other retirement accounts, where you have to manage withdrawals and market risk, a SPIA:

  • Provides a guaranteed income stream-starting within 30 days
  • Eliminates stock market risk (your payments don't fluctuate)
  • Can last for life or a fixed period
  • May include survivor benefits for your spouse
See How Much You Can Receive

Who Should Consider a SPIA?

A Single Premium Immediate Annuity is right for you if:

  • You're retiring and want a guaranteed income paycheck
  • You're concerned about outliving your savings
  • You want to avoid market risks and fluctuating investments
  • You prefer simplicity-just set it up and start receiving payments
  • You have a lump sum (such as a 401(k), pension, or inheritance) that you want to turn into stable income.
Check Your SPIA Income Options

SPIA vs. Other Retirement Income Options

Table is SEO & AI-friendly with structured data markup

Terms like “Best For” and “Key Benefit” match search intent

Retirement Income Option
Best For
Key Benefit
Market Risk?

SPIA (Single Premium Immediate Annuity)

Retirees who need immediate, guaranteed income

Fixed, reliable payments for life or a set period

N0

401(k) or IRA
Withdrawals

Those who want flexibility

Access to funds, but must manage withdrawals
YES

Fixed Indexed Annuity (FIA)

Those who want potential growth & income

Gains linked to the market, but no losses
No

Stocks & Dividends

Investors comfortable with market swings

Potential for higher re- turns, but no guarantees
Yes
Compare SPIA Quotes Now
Retirement Income Option
Retirement Income Option
Best for
Best for
Key Benefits
Key Benefits
Market Risk
Market Risk?

SPIA (Single Premium
Immediate Annuity)

Retirees who need
immediate, guaranteed income

Fixed, reliable payments for life or a set period

N0

401(k) or IRA
Withdrawals

Those who want flexibility
Access to funds, but must manage withdrawals

yes

Fixed Indexed Annuity
(FIA)

Those who want poten- tial growth & income
Gains linked to the market, but no losses
No

Stocks & Dividends

Investors comfortable with market swings
Potential for higher re- turns, but no guarantees
Yes

How Does a SPIA Work?

It’s a simple 3-step process:

Choose Your Payout Structure

Lifetime Payments -

Guaranteed for as long as you live.

Period Certain Payments -

Fixed for a set number of years.

Lifetime Payments –

Guaranteed for as long as you live.
Fund Your SPIA

Use savings, a 401(k) rollover, IRA, or pension lump sum to fund your annuity.

Receive Guaranteed Income

Payments start within 30 days and continue for life or your chosen period.

See How Much You Can Get

Common Questions About SPIAs

Still have questions? Here are the answers to the most common questions we receive:

How soon do payments start with a SPIA?

Your payments start within 30 days of funding your SPIA, depending on the contract start date.

That depends on the payout structure you choose:

  • Life Only: Payments typically stop upon death.
  • Joint and Survivor: Payments generally continue to the surviving joint annuitant (e.g., a spouse).
  • Period Certain / Refund: Payments may continue to beneficiaries for a guaranteed period or until the premium is returned.

If you want guaranteed lifetime income and don’t want to worry
about withdrawals, a SPIA is one of the safest ways to create a predictable paycheck.

Talk to an Annuity Expert About Your Options

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