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What is a Single Premium Immediate Annuity?

April 26, 2017Annuity immediate Premium

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What is a Single Premium Immediate Annuity?

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A SPIA is designed to produce an immediate guaranteed structured payout for a specific time. SPIA’s are generally used to produce an income stream. Some Medicaid SPIA’s are designed to generate a minimal income stream now, while protecting the principle against Medicaid restrictions.