Convert a lump sum into guaranteed lifetime income starting in 30 days. Create the pension your employer never gave you with predictable monthly payments for life.
See your guaranteed monthly payment
Four reasons to create your own pension
Payments continue for life, even if you outlive your premium. Longevity insurance that protects against running out of money.
Income starts within 30 days. No waiting, no accumulation phase. Perfect if you need retirement income now or very soon.
Payouts include return of principal plus interest plus mortality credits (payments from those who die early). Often 30-50% more than 4% withdrawal rule.
Eliminate market worry and sequence-of-returns risk. Lock in guaranteed income to cover fixed expenses. Sleep better knowing bills are covered.
Highest monthly income per $100K invested (age 65 male, life only)
What makes immediate annuities unique
SPIAs can pay more than you could safely withdraw yourself because of mortality credits. When some annuitants die early, their remaining funds are redistributed to those who live longer. This risk pooling—like insurance in reverse—allows carriers to offer higher payments than you could safely generate on your own.
A 65-year-old male can typically get $800-850/month per $100K invested. That's 9.6-10.2% annually—much higher than the "safe" 4% withdrawal rule. The tradeoff? Less flexibility and no inheritance (with life-only option).
| Payment Option | Monthly Income (per $100K) | Key Feature |
|---|---|---|
| Life Only | $843/month | Highest payment, stops at death |
| Life with 10-Year Certain | $801/month | Guaranteed 10 years minimum |
| Joint & Survivor (100%) | $729/month | Continues to spouse at full amount |
| Joint & Survivor (50%) | $786/month | Continues to spouse at 50% |
| 20-Year Period Certain | $588/month | Fixed 20 years regardless of life |
Rates shown for age 65 male. Female rates are lower due to longer life expectancy. Joint rates assume spouse is same age.
Immediate annuities are ideal for specific situations
Perfect for new retirees who need to cover fixed expenses (housing, healthcare, food). Lock in lifetime income to match lifetime expenses.
If you expect to live a long life (family history, good health), SPIAs protect against outliving your money. You can't outlive this income.
Lost pension in job change? Took lump sum instead of pension? Create your own pension with guaranteed lifetime payments.
Best used for a portion (25-40%) of your portfolio. Keep other assets liquid for emergencies, legacy, and discretionary spending.
SPIAs are irreversible. Once you buy, you can't get your lump sum back. If you might need the principal, keep it elsewhere.
If health issues mean you're unlikely to reach age 80-85, a SPIA may not pay back your premium. Consider other options.
Life-only SPIAs leave nothing to heirs. If legacy is your top priority, keep assets in other vehicles or choose period-certain options.
How savvy retirees use SPIAs
Add up essential monthly costs: housing, utilities, healthcare, food, insurance. These are expenses you must cover no matter what.
Calculate Social Security, pension (if any), and other guaranteed sources. Subtract from fixed expenses.
Use part of your portfolio to generate the income gap. A SPIA paying $1,400/month requires roughly $175K at age 65.
With essential expenses covered, invest remaining assets more aggressively for discretionary spending, travel, and legacy.
You've created a personal pension that covers your baseline needs. Market crashes no longer threaten your lifestyle. You can take more risk with other assets because your floor is secure. Sleep better knowing the bills are covered—forever.
Compare income rates from 47 top-rated carriers. See exactly how much monthly income you can get before sharing any contact information.
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