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 ?
Birama Sidibe, IDB Vice President (Operations) stated that in 2008 IDB pledged US $ 4 billion for the SPDA which is added to the US $ 8 billion from member countries and other development partners, making the total amount for the SPDA to US $ 12 billion.
In contrast, both the optimal product mix proportion and the K-ratio decrease as the coverage period of SPDA becomes shorter in Table 3.
The seven Fellows participating in the Spring 2003 SPDA Program are all assistant professors from different disciplines.
01bn for 480 trade and project financing operations have been approved under the SPDA.
Funding for the project will come from the sale of $200 million in bonds issued by the SPDA to be sold by major international investment bankers.
The SPDA is assisting the federal government of the Philippines to develop solid waste management solutions for metropolitan Manila and the provincial governments for the Philippines' second largest island, Mindanao.
Because of First Colony's continued strategic pull-back, accumulation product sales declined; SPDA sales fell 29 percent to $91 million and single premium life sales fell 25 percent to $31 million.
Earlier this year, the NewMedia 500 poster was honored by the Society of Publication Designers' Publication Design at the 34th SPDA competition, which recognizes outstanding editorial design worldwide.
At June 30, our core SPDA products policyholder balances totaled $7.
The block of SPDA annuities, marketed as the F&G Annuity and with reserves of approximately $950 million, will be transferred to Keyport from F&G Life.
Until introduction of the proprietary fixed annuity, United Jersey Bank will sell Western's standard single premium deferred annuity, the SPDA II.
Additionally, Best is concerned that a substantial portion of its premium income consists of non-qualified SPDA business, which is subject to potential adverse tax legislation.