Immediate Annuity Quotes and Rates
Maryland Annuity Resource offers Immediate Annuities or SPIA’s in Maryland, Washington D.C. and Virginia.
We believe that Immediate Annuities are the foundation to bridging the gap between ages 59 and the retirement age of 70 currently. There are many benefits to Immediate Annuities and we will be telling you about those below.
Why should I consider buying an Immediate Annuity?
What are its advantages to me?
These are a many advantages that immediate annuities can provide to the buyer. Here is a list of just a few:
- Security- the annuity provides stable lifetime income which can never be outlived or which may be guaranteed for a specified period;
- Simplicity- the annuitant does not have to manage his investments, watch markets, report interest or dividends;
- High Returns- the interest rates used by insurance companies to calculate immediate annuity income are generally higher than CD or Treasury rates, and since part of the principal is returned with each payment, greater amounts are received than would be provided by interest alone;
- Preferred Tax Treatment- it lets you postpone paying taxes on some of the earnings you’ve accrued in a “tax-deferred” annuity when rolled into an immediate annuity (only the portion attributable to interest is taxable income, the bulk of the payments are nontaxable return of principal);
- Safety of Principal- funds are guaranteed by assets of insurer and not subject to the fluctuations of financial markets; and
- No sales or administrative charges