Get the free Single Premium Immediate Annuity - insurance arkansas

This document details the Single Premium Immediate Annuity contract offered by Athene Annuity & Life Assurance Company, including product features, provisions, and application instructions.

How to fill out single premium immediate annuity

How to fill out Single Premium Immediate Annuity

1. Determine the amount you want to invest in the Single Premium Immediate Annuity.
2. Contact a licensed insurance agent or financial advisor to discuss your options.
3. Select the type of annuity that suits your needs (e.g., fixed or variable).
4. Complete the application form provided by the insurance company.
5. Provide necessary personal information including age, marital status, and financial details.
6. Choose the payment frequency (monthly, quarterly, annually).
7. Review the terms, including payout options and any fees or penalties.
8. Submit the application along with the premium payment to finalize the process.

Who needs Single Premium Immediate Annuity?

1. Individuals seeking a guaranteed income stream during retirement.
2. People who want to convert a lump sum of money into regular payments.
3. Those looking for a low-risk investment option to mitigate market volatility.
4. Retirees needing immediate cash flow for living expenses.
5. Individuals who prefer predictable and stable returns over a period of time.

People Also Ask about

Is a single premium immediate annuity a good idea?

SPIAs can be a good fit for people who have done their retirement homework and planning. If you have a lump sum of money available to you, a SPIA can help you have an amount paid out to you over time to cover your lifestyle needs.

What is a single premium immediate annuity?

A single premium immediate annuity (SPIA) allows you to use a lump sum of your assets to purchase a guaranteed1 "retirement paycheck".

What is the downside of a spia annuity?

Downsides of a SPIA Along with its many benefits, a SPIA can have some downsides, like low liquidity and inflation risk .

Are single premium annuities a good investment?

Fixed single premium deferred annuities can be a good option for those looking for a tax deferred option with basically zero risk. Unlike a CD, you're not taxed on the annual return of your fixed annuity and you generally can withdrawal a percentage per year without any sort of penalty.

Which are disadvantages of a single life annuity?

But remember that the main disadvantage of a single life annuity is that if you pass away after arranging your annuity, your annuity payments typically stop. As a result, your spouse, partner or other potential beneficiary will not benefit from the money you have saved into your pension during your lifetime.

How much does $100,000 immediate annuity pay?

The bottom line. A $100,000 annuity can provide you with a monthly income of between roughly $525 and just over $1,000, depending on your age, the payout structure and the features you select.

Are single premium deferred annuities safe?

Single-premium deferred annuities (SPDAs) are not FDIC-insured. They aren't given federal protection like bank accounts, which are protected by the Federal Deposit Insurance Corporation (FDIC). The FDIC protects balances up to $250,000 in the event of a bank failure. SPDAs receive no such guarantee.

Is a spia a good idea?

If you're looking for an "immediate" ongoing source of income that you can't outlive, a single premium immediate annuity could be right for you. A single premium immediate annuity (SPIA) allows you to use a lump sum of your assets to purchase a guaranteed1 "retirement paycheck".

For pdfFiller’s FAQs

What is Single Premium Immediate Annuity?

A Single Premium Immediate Annuity (SPIA) is a type of annuity that allows an individual to make a lump-sum payment to an insurance company in exchange for a series of regular income payments, which typically begin immediately.

Who is required to file Single Premium Immediate Annuity?

Generally, individuals who purchase a Single Premium Immediate Annuity may need to report the tax implications of the annuity on their income tax returns, but there is no specific requirement to 'file' the annuity itself.

How to fill out Single Premium Immediate Annuity?

To fill out the forms for a Single Premium Immediate Annuity, individuals typically need to provide personal information, details of the lump sum payment, and choose the payout options such as time period and beneficiaries.

What is the purpose of Single Premium Immediate Annuity?

The purpose of a Single Premium Immediate Annuity is to provide a reliable source of income for individuals, especially during retirement, allowing them to convert their savings into a predictable and steady cash flow.

What information must be reported on Single Premium Immediate Annuity?

Information that must be reported typically includes the amount of the premium paid, the total payments received, interest earned, and any distributions for tax reporting purposes.