What is an annuity?

SPIA Defined.

A SPIA is a single premium immediate annuity issued by an insurance company allowing you to turn a lump sum of money into a regular payment that is guaranteed for a certain period. The payout phase of the SPIA could be as short as 5 years, or last as long as the rest of the annuitant's life.

The concept is simple; you can make a single payment to an insurance company who in return starts to pay you a fixed monthly amount of money for a fixed period of time. This is surely a huge benefit for retired people or anyone trying to secure their future. The program starts within 30 days of making the initial payment.

For most immediate annuities, the payments you get never change and you don’t have access to your lump sum payment either. That means if you suddenly need $10,000 for an emergency, you will have to find the money through different sources. Your investment is irreversible.

We have a solution. Our partners will help you by purchasing your annuity payments so you can take advantage of lump- sum payment. They will also offer you flexible deferred payment options where you can choose a comfortable size of payments that is perfect for you. Most of the time, people just want to become free of the restrictions that has been imposed upon them by the insurance company. Another option is to sell just a small portion of your annuity payments and raise enough money to cover your immediate need. You still have the comfort of knowing you will have annuity payments in the future.

The advantages of selling annuity payments are undeniable. There is no court order process and you may have your lump-sum of money within 2 weeks or less.

To talk to an expert about you cash options.