Speak with a Registered Agent: 1-866-223-2121

Speak with a Registered Agent: 1-866-223-2121

What is a Single Premium Annuity?


InsuranceAgents.com’s Rafael Onak, describes how to avoid living longer than your income in “Single Premium Annuity: Secure Your Financial Future.”  Annuities are insurance products that help to guarantee you will receive income for the rest of your life.  While some annuity purchasers pay small amounts over time to reach the specified purchase price, others prefer to make a lump sum payment which is called a single premium annuity.  The minimum investment required is usually anywhere from $5,000-$10,000, depending on the insurance company from which the annuity is purchased.  If you choose to defer receiving your monthly payments, the annuity can earn interest for you which will be paid out along with your initial investment.

There are many ways to find the money for purchasing a single premium annuity.  Funds from the sale of a house or other property, the sale of investments or 401k annuities, an inheritance, a life insurance payout, or other retirement plan payouts are all good ways to obtain the funds for purchasing an annuity.  A single premium annuity is best for those looking for a safe way to obtain guaranteed income for life.  You want to purchase an annuity with the plan that you will not take the money out prematurely because there are strict penalties associated with that.  Speaking to an expert is the best way to determine if an annuity is right for you.

For more information about the product mentioned in this article contact us here:

Newest Blog Posts

Information Request Form

If you have questions or would like more information, please complete this form and a licensed professional will be happy to help. For the fastest response, please select 'Phone' as your Contact Preference.

By providing your information and clicking 'Submit' above, you acknowledge that you have read and agree to this site's privacy policy. You also provide your consent to be contacted at the email address or phone number provided above (including any wireless number) by licensed agents or representatives from or on behalf of AFYI Holdings Group, LLC and other companies to provide the information requested and/or offer annuities or financial products. You understand that these calls or SMS messages may be generated using an automated telephone dialing system, a pre-recorded message, or artificial voice. Consent to receive such messages is not a condition to purchase any goods or services. You may opt out at any time by following the instructions in the messages you receive.  Receiving quotes and information through our website is free, and you are under no obligation to purchase any goods or services as a result of this request. You affirm that you are the subscriber of the provided telephone number or that the subscriber authorized you to provide the number. Message and data rates may apply. AFYI Holdings Group, LLC is committed to respecting your privacy and adhering to all applicable laws and regulations, including the Telephone Consumer Protection Act (TCPA).