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).
References in periodicals archive ?
In Illinois, the product is known as Individual Modified Guaranteed Equity Index Single Premium Deferred Annuities.
Also in 2010, Centurion Life stopped issuing single premium deferred annuities due to spread compression issues.
Jefferson Pilot Classic Single Premium Deferred Annuities (Policy Forms 04-600 and 04602, or state variation) is issued by Jefferson-Pilot Life Insurance Company, Greensboro, NC and may not be available in all states.
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 Jefferson Pilot Eclipse Single Premium Deferred Annuities (Policy Form 94-525, or state variation) and Jefferson Pilot OptiPoint Flexible Premium Deferred Annuities (Policy Form 94-526, or state variation) are issued by Jefferson-Pilot Life Insurance Company, Greensboro, NC and may not be available in all states (may be referred to as "equity indexed annuities" in certain states).
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.
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.
The company sells primarily single premium deferred annuities (SPDAs) and guaranteed investment contracts (GICs) through nontraditional life insurance distribution channels such as securities brokerage firms and financial planners.
American Enterprise's major line of business is single premium deferred annuities, which it markets through financial institutions.
United Life & Annuity's core business is selling single premium deferred annuities through financial institutions and independent general agents.

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