Single Premium Deferred Annuity

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Single Premium Deferred Annuity

An annuity purchased with a lump sum payment by the annuitant, who does not begin to receive payments until some future date. Like all deferred annuities, an SPDA has two phases, a savings phase and an income phase. The savings phase involves the annuity taking the lump sum payment and investing it on behalf of the annuitant. In the income phase, the annuitant receives payments. It is important to note that an SPDA, like all deferred annuities, is not taxed until the income phase begins. It also pays a death benefit to the survivor(s) of the annuitant. See also: IRA, 401(k).
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In another ruling, the IRS considered an irrevocable trust whose trustee purchased three single premium deferred annuities, naming the trust as owner and beneficiary of the contracts and a different trust beneficiary as the annuitant of each contract.
Also in 2010, Centurion Life stopped issuing single premium deferred annuities due to spread compression issues.
When I first started selling fixed annuities in the late 1970s, there were only a handful of single premium deferred annuities on the market.
Among Guardian's main annuity products are a variable annuity with a living benefit rider; a single premium immediate annuity; and single premium deferred annuities.
com Equity Indexed; Impaired Risk All States Immediate; Variable Deferred Illinois Mutual Life Marketing Seminars & Materials; Company Advanced Sales Support; Steve Kershaw Telephone; Web 300 SW Adams St Single Premium Deferred Annuities Peoria, IL, 61634 800-437-7355 sjkershaw@illinoismutual.
Key variables in meeting Mutual's strategic objectives will be its ability to maintain margins within the Medicare supplement and supplemental health product lines, the normalization of adverse mortality within single premium deferred annuities and selected term life products, realization of expense efficiencies through systems enhancements, and profit emergence from its banking and group disability initiatives.
The company's major lines of business are universal life insurance, single premium deferred annuities and pre-need burial insurance, and it markets its products primarily through agents.
This ratio is lower than that of peers due to the company's liability profile, which includes over $5 billion of guaranteed investment contracts and over $9 billion of single premium deferred annuities with little or no surrender charge.
Its major lines of business are individual annuity, flexible premium deferred annuities, and single premium deferred annuities.
American Enterprise's major line of business is single premium deferred annuities, which it markets through financial institutions.
Keyport's book of business consists primarily of single premium deferred annuities and a $2.
The third quarter was highlighted by a coinsurance agreement between Keyport Life Insurance Company and Fidelity & Guaranty Life Insurance Company for a $950 million block of F&G Life's single premium deferred annuities.

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