Single Premium Immediate Annuities provide a guaranteed, lifetime payout based off the
premium given at the beginning of the investment.100% of the investment goes toward a
retiree’s monthly income, as payout is guaranteed through assets of the insurer and legal
reserves. A great benefit to this type of investment is that retirees can invest with less money
than a typical stock and bond portfolio. Fixed payments or payments that increase up to 3%
every year can be chosen for the payout structure. No sales or administrative fees are applied
through this annuity.