National Western Life’s Single Premium Immediate Annuity is designed to provide a series of fixed payments tailored to meet your specific income needs. You can choose payments for as little as 5 years or for as long as a lifetime! By guaranteeing those payments, an immediate annuity can provide a solid base for your financial future.
Find the best immediate annuity rates, and estimate your retirement income.
Funding Single Premium Immediate Annuities
- Life insurance benefit proceeds
- Deferred annuity rollovers
- 401K and IRA rollovers
- CDs and other fixed-rate investments
Benefits of NWL’s Single Premium Immediate Annuity
- Guaranteed Income – Payments are guaranteed in amount and duration
- Income Tax Advantages – May spread tax on tax-deferred assets over multiple years
- Asset Management – May provide desirable asset management and income distribution
- Asset Protection – May provide protection against creditors, lawsuits and spendthrifts
Guaranteed Income
You make a single premium payment and receive a monthly stream beginning immediately that is guaranteed and will not change with market trends or if interest rates rise or fall.
Use an immediate annuity calculator to get a better idea of the retirement income you generate or request immediate annuity quotes to compare.
Income Tax Advantages
If the lump sum proceeds used to purchase the SPIA are from a non-qualified deferred annuity, part of each income payment is considered a return of principal.
Only the interest part of each payment is taxable.
This treatment continues until your entire principal has been received, spreading taxes on any prior deferred income over a period of years rather than with the first benefit payment.
Flexible Settlement Options for every stage of life
No matter how you visualize your retirement, there may come a time when you want or need extra income security.
With a variety of settlement options, you can customize your immediate annuity to fit any stage of life.
Period Certain
Guarantees payments for a 5 and 10 year period certain.
If you die within the benefit period, payments will be made to your beneficiary until the end of the period selected.
Life Only
Guarantees payments for as long as you live.
When you die the payments stop.
This payout generates the largest amount of income from the smallest amount of capital.
Life Contingent
Guarantees payments for as long as you live but if you die during a specified number of years (either 5, 10, 15 or 20), payments will be made to your beneficiary until the end of the period selected.
This settlement option is also known as Life with Period Certain.
Joint and Survivor
Guarantees payments for as long as you and one other person lives.
When you die payments will continue for a spouse, loved one, or business partner for as long as they live.
Installment Refund
Available with Life Only and Life Contingent settlement options this feature guarantees that the sum of all payments will equal at least the initial premium-even if you or you and a spouse die. A reminder of the Potential Benefits of guaranteed SPIA income payments:
- May provide more income security than some other financial planning methods.
- May spread tax on deferred annuity income over multiple years
- May provide protection against creditors, spendthrifts, etc.
- May provide desirable asset management and distribution
Death Benefit
If the annuitant dies within the payment period and payments have been guaranteed for a certain duration or amount which has not yet been reached, the company will continue to pay benefits to the beneficiary in the same amount and frequency until the guaranteed duration or amount is reached.
Pension-Alternative
If you’re seeking a pension-like income in the future, but want more flexibility, check out an income rider. Annuities with an income rider provide guaranteed income for life with a death benefit for beneficiaries along with much more flexibility, access, growth potential, and control.
