By line of business
Annuities
A single premium immediate annuity (SPIA) converts one lump-sum payment into a stream of income that starts within about a year. Payments can last for a fixed period or for life, and life-contingent versions transfer longevity risk to the insurer in exchange for giving up access to the principal.
SPIAs are the simplest annuity to explain and among the hardest to sell, because the client hands over a lump sum they can no longer touch. They fit best when a retiree's guaranteed income falls short of essential expenses and they worry more about outliving savings than about leaving the lump sum to heirs.
The immediate annuity calculator models a period-certain payout from a Lump-Sum Premium, an Annual Rate and a Payout Period, returning Monthly Income and Total Payout. Its definitions explain how a life-contingent annuity differs, which gives the producer a natural next step in the conversation.
InsuranceQuoteWidget
Free Producer plan · 14-day trial on paid plans · cancel any time
/ Press / to search
Theme
Colour palette
Text size
Saved on this device