Single Premium Annuity Definition

Shawn Plummer

CEO, The Annuity Expert

What is a Single-Premium Annuity?

A single-premium annuity is defined as an annuity purchased by a single lump-sum payment is called a single premium annuity. The annuity itself is a contract between the company and the annuitant. Single premium annuities may be single-premium immediate annuities or single-premium deferred annuities, under which a single premium is paid.

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Shawn Plummer

CEO, The Annuity Expert

I’m a licensed financial professional focusing on annuities and insurance for more than a decade. My former role was training financial advisors, including for a Fortune Global 500 insurance company. I’ve been featured in Time Magazine, Yahoo! Finance, MSN, SmartAsset, Entrepreneur, Bloomberg, The Simple Dollar, U.S. News and World Report, and Women’s Health Magazine.

The Annuity Expert is an online insurance agency servicing consumers across the United States. My goal is to help you take the guesswork out of retirement planning or find the best insurance coverage at the cheapest rates for you. 

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