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SINGLE PREMIUM IMMEDIATE ANNUITY (SPIA)

A Single Premium Immediate Annuity (SPIA) is the foundation of many retirement plans. It's the classic Annuity in the Payout Phase, a source of solid, predictable income.

Issued based on a single payment of premium, SPIAs pay over a set period of time. In a Non-Qualified SPIA, that income is said to be "tax advantaged," since a portion of the payout is deemed to be return of Principal.

Standard Life Insurance Company of Indiana's SPIA is engineered to pay a high rate of interest. SPIAs are available in durations from five to 20 years and beyond.

SPIAs can also be combined with deferred annuities to provide income and build Account Value at the same time. Called a "Split Annuity," the pairing of a SPIA and a Deferred Annuity may be one building block of a solid and secure financial foundation.

SINGLE PREMIUM IMMEDIATE ANNUITY PLUS (SPIA PLUS)

SPIA Plus is a specialized version of Standard Life of Indiana’s traditional SPIA. It’s structured for people who require an irrevocable, non-transferrable and non-assignable immediate annuity for specific financial planning purposes.

The SPIA Plus offers the following payment options:

  • Level payments
  • Increasing payments
  • Minimum payment with a final balloon payment (not available in all states).

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