A single premium immediate annuity (SPIA) is one of the simplest types of annuity contracts. ... If you use a SPIA with a fixed interest rate, your future income is not based on the market.

Single Premium Immediate Annuity. ... Annuity rate of return is classified one of three ways—variable, fixed and index. Annuities may be further classified by how long their payments last: ...

An immediate payment annuity is also known as a single-premium immediate annuity (SPIA), ... The payments on immediate payment annuities are generally fixed for the period of the contract.

Combining fixed and variable annuities can provide a reliable and flexible source of retirement income, though the strategy ...

Fixed Annuity: Your annuity earns a fixed rate over a set period of time. ... If you chose to fund your annuity all at once, this is called an immediate annuity, income annuity or SPIA.

Fixed indexed annuities "A Fixed Indexed Annuity (FIA) is a deferred annuity that offers more opportunity for protected growth than a traditional fixed annuity," said Stork.

The table below shows the fixed-income asset-class exposure provided by an annuity, assuming a 4.5% discount rate and a $19,806 per year annuity benefit (this would be the payment from the income ...

Each insurance company sets its own rate of return on annuities. For fixed and immediate annuities, ... the average annual payout on a $100,000 SPIA for a 65-year-old man was $5,748 in June 2020, ...

In 2023, fixed-rate deferred annuities totaled $164.9 billion, up 46% from the 2022 annual high of $113 billion. Fixed indexed annuities Fixed indexed annuity sales also had a record year.

In April 2025, the best fixed annuity rates from top insurers ranged from 3.85 percent to 5.80 percent — not bad for a lifetime fixed rate of return. Other ways to classify immediate annuities ...

A single-premium immediate annuity ... Fixed annuity returns are tied to interest rates while variable annuity returns are based on the performance of underlying investments.