ivari’s Single Premium Immediate Annuities (SPIAs) provide a guaranteed income to the annuitant for the annuitant's lifetime or for a specified period of time in return for a lump sum of money.
Along with competitive rates and a wide range of options, ivari SPIAs provide many benefits to help you reach your income goals.
A single life annuity provides an income as long as the annuitant is living. The income payments can also be guaranteed for a specific period. The income frequency can be monthly, quarterly, semi-annual or annual. If a guarantee period is selected, payments are guaranteed during the selected period. If the annuitant dies before the end of the guarantee period, the income will continue to the beneficiary until the end of the guarantee period.
This type of annuity provides an income during the lifetime of two people, first on the life of the primary annuitant, then on the life of the successor annuitant. The payments are guaranteed while at least one of the annuitants is living. The income frequency can be monthly, quarterly, semi-annual or annual. There are optional guarantee periods, as well as an option to reduce the payment amount at the primary annuitant's death or after the guarantee period has expired.
A term life annuity provides the annuitant with guaranteed, regular income for a selected period of time. Income payments cease and the annuity contract ends at the end of the term certain period.
SPIAs allow you to convert a registered or non-registered lump sum into a regular stream of income that can be guaranteed for the life of one or two annuitants, or for a specified period of time.