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A single-premium deferred annuity (SPDA) is an annuity established with one lump-sum payment to an insurance company. The assets in the annuity grow over time, during...
A single premium deferred annuity, or SPDA, is a tax-deferred retirement savings product. Here's how it works.
A single premium deferred annuity (SPDA) is a type of deferred annuity you purchase with one lump sum—a single premium—at the beginning of your contract. After your initial purchase, you cannot contribute any more money.
The most common types of deferred annuities are single premium deferred annuities and flexible premium deferred annuities. Single premium deferred annuities are purchased with one lump sum of money. There are advantages and disadvantages to single premium deferred annuities.
Single premium deferred annuities (SPDA) are set up with one large payment and provide a guaranteed income thereafter. SPDAs often have high fee structures and a large initial premium that can make them inaccessible for some investors.
With a single-premium deferred annuity, you pay for the contract with one lump sum payment. This could be a large deposit from your savings or a transfer from a retirement plan,...
What is the difference between a single premium and a flexible premium in a deferred annuity? A single premium deferred annuity is purchased with one lump-sum payment, while a flexible premium deferred annuity can be purchased in multiple installments over time.
A single premium deferred annuity is a type of annuity that allows an individual to invest a lump-sum payment with an insurance company to grow tax-deferred over time. Who should consider purchasing a single premium deferred annuity?
A single-premium deferred annuity (SPDA) is a financial contract that requires a single lump-sum payment and offers tax-deferred growth. SPDAs are designed for individuals who want a reliable source of income during retirement and have a lump-sum amount available for investment.
A single premium deferred annuity is a good annuity option for purchasing a lump sum for future income. It offers tax-deferred growth, flexible payout options and potential death benefits for loved ones. Understanding it's key features helps you make informed decisions that align with your financial goals.