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You have worked very hard over the years to prepare for a comfortable retirement, so it is important to consider the best ways to protect your assets and provide yourself with the most financial freedom. The SPIA (Single Premium Immediate Annuity), a financial product that provides an immediate and steady income stream for a chosen period.

Client Profile
The SPIA is for contract holders who want to exchange a single lump-sum premium payment for guaranteed payments for a certain time span.

Product Overview
The SPIA allows distributions to be setup. Money can be received for a specified number of years or for the rest of a lifetime. And if an individual dies within a certain period of time (normally 10 or 20 years), the beneficiary will receive payments until the end of the specified period.

The money for a SPIA may come from a variety of sources: IRA or 401(k) accounts, your own savings, or maturing CDs. If tax-deferred money is contributed to a SPIA, tax liability can generally be spread over the length of time payments are received, even the rest of a lifetime!

Amount and Age Limits

The minimum gross single premium is $10,000. Issue ages are 0-95 for non-life contingent plans and 0-85 for life contingent plans.


The product information contained in is a summary of available benefits. The exact terms of the benefits and the applicable provisions and conditions are contained in the contract. Any contract contains terms under which it may be continued in force or discontinued. A contract may not be available in all states or may have different provisions in certain states.

Western & Southern Life does not provide tax or legal advice. Please contact your tax or legal advisor regarding your situation. The information provided is for educational purposes only.

Single Premium Immediate Annuity contract series ICC10 ENT-01 0901 issued by Western-Southern Life Assurance Company.

Western-Southern Life Assurance Company, Cincinnati, Ohio, operates in DC and all states except AK, ME, NH, NY and RI.

This product may not be available in all states. It is not available outside the United States.


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Last Updated: 12/14/2017