Single Payment Immediate Annuity

The Single Payment Immediate Annuity provides a scheduled stream of income payments for a one time deposit.  This is a great product for anyone who has accumulated or received a large sum of money. 

Immediate Annuities can also be used to fund any financial obligation by generating a stream of payments to the owner necessary to pay other obligations.  (Loans, insurance policies, etc.)

Specifications

The issue age for this product is age 14 days to age 90.

Deposits

A one time payment is deposited into the annuity.  No future payments can be deposited.

Interest Rates

Interest rates are set by the company.  Once the Immediate Annuity is started, the payments are guaranteed for the designated period stated in the contract.  Future interest fluctuations cannot  impact the contract.

Payouts

The first payout can be paid immediately or deferred for up to one year after the single premium deposit has been made. 

Payout frequency

You will receive a scheduled payout check Annually, Semi Annually, Quarterly, or monthly as requested on your application.

Payout Options

Life only – Provides the maximum payout and ends at the annuitant’s death.

Period-Certain – Payments are made for a minimum of 5 or up to 20 years.  Upon death of the annuitant, the remaining period of payments will be made to the beneficiary.

Life and Period-Certain – Payments are made for the life of the annuitant.  However, if the Annuitant dies prior to the end of the Period-Certain date (Either 10 or 20 years), the remaining period of payments will be made to the beneficiary. 

Joint-Life – Life only – Provides guaranteed payments for the life of multiple annuitants.  In the case of husband and wife, the annuity payments continue until the death of both annuitants. 

Joint-Life – Life and period-certain – Payments are made for the life of two annuitants.  If the death of both annuitants occurs before the Period-Certain expires, the remaining annuitant payments will be made to the beneficiary.