Chris-Magnussen-27-What is a single premium immediate annuity or SPIA
In this video, Chris Magnussen explains that a single premium immediate annuity is a one-time investment, often funded from a 401(k) or IRA, designed to provide guaranteed lifetime income that can begin as soon as 30 days after purchase.
Video Transcript
A single premium immediate annuity is just that. There are different types of annuities. There's a single premium and there's a flexible premium. But with a single premium, it is a single investment typically offered from an old four zero one ks or an IRA. We're to offer you guaranteed income for life and can start as soon as thirty days from now.
