Maryland Immediate Annuities

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Maryland Annuities

Income for Life

Safety of Principal

Guarantees of Principal

Guaranteed Lifetime Income

Maryland Annuities

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Maryland Fixed Annuities

Fixed Interest Rates

Guaranteed Returns

CD Type Annuities

Maryland Fixed Annuities

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Maryland Fixed Indexed Annuities

Fixed Account Options

Indexed Account Options

Annuity Income Riders

Annual Reset

Locked In Interest Crediting

Maryland Fixed Indexed Annuities

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Maryland Multi Year Guaranteed Annuities

MYGA Annuities

Known Returns

Laddering Strategies

Maryland MYGA Annuities

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Maryland Immediate Annuities

Income for Life

Retirement Income Stream

Immediate Income

Maryland Immediate Annuities

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Maryland Annuity Lifetime Income Riders

Guaranteed Lifetime Income

Spousal Continuance Provisions

Terminal Illness Waiver

10% Withdrawal Provisions

Maryland Immediate Annuities for all residents living in Maryland

For more information about Maryland Immediate Annuities, click here.

Immediate Income with Maryland Immediate Annuities

Maryland Annuity Resource offers Immediate Annuities or SPIA’s for all residents living in Maryland. We believe that Immediate Annuities are the foundation to bridging the gap between ages 59 and the retirement age of 70 currently. No matter where you live in Maryland, we will come to you to help you with your Immediate Annuity. Immediate Annuities create immediate income and there are many benefits to Immediate Annuities and we will be telling you about those below.

Single Premium Immediate Annuities (SPIAs)

Regular Retirement – Income Now And For Life

Immediate annuities can turn your assets into regular payments beginning now and lasting for the rest of your life or for a specified period of time. At retirement, you can use distributions from defined contribution plans, 401(k)s or IRAs to fund an immediate annuity to create a personal pension.

Immediate annuities are single-payment annuities. Any large sum of cash from an inheritance, legal settlement, sale of a business or home can be converted into an income stream for the duration you specify. Immediate Annuities are not intended to offer liquidity or growth potential. Once purchased, immediate annuities have no cash value, no payments other than the scheduled payments guaranteed under the contract are available.

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:

  1. Security- the annuity provides stable lifetime income which can never be outlived or which may be guaranteed for a specified period;
  2. Simplicity- the annuitant does not have to manage his investments, watch markets, report interest or dividends;
  3. 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;
  4. 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);
  5. Safety of Principal- funds are guaranteed by assets of insurer and not subject to the fluctuations of financial markets; and
  6. No sales or administrative charges

Immediate Annuity Payout Options

Period Certain only: Income for a fixed number of years (5-20) with payments continuing to a named beneficiary should a death occur prior to the end of the period certain. Cannot pay out past the age of 100 for the owner or annuitant.

Life Only: Payments will be made only during your lifetime. After your death, no further payments will be made. No payments will be made to an estate or any other person.

Life and Period Certain: Income payable for your lifetime with a guaranteed payment period ranging from 5 to 20 years. If you die before the end of the period certain, payments continue to be made to a beneficiary until the end of the period certain. Cannot be paid out past age of 100.

Installment Refund: Payments are made during your lifetime. After your death, your beneficiaries continue to receive payments until all payments are equal to the single premium originally paid.

Cash Refund: Payments are made during your lifetime. After your death, your beneficiaries receive a lump sum payment equal to your single premium originally paid, less any payments received.

Joint Life with Survivorship: Payments are made for your lifetime and the lifetime of your spouse. After your death or the death of your spouse, payments continue to the surviving spouse for his/her lifetime.

Joint Life with Survivorship and Period Certain: Income payable for your lifetime and the lifetime of your spouse, with a guaranteed payment period ranging from 5 to 20 years. After your death or the death of your spouse, payments continue to the surviving spouse for his/her lifetime. If both you and your spouse die before the end of the period certain, payments continue to a named beneficiary until the end of the period certain. Payments cannot be set up to pay out past the age of 100.

Single Premium Immediate Annuities (SPIAs) are particularly suitable for the following situations:

  1. Retirement from Employment
  2. Terminal Funding or Pension Terminations
  3. Retired Life Buyouts
  4. Structured Settlements for Personal Injury, Estate or Divorce cases
  5. Professional Sports Contracts
  6. Credit Enhancement and Loan Guarantee Transactions

Immediate Annuities are great income and investment tools that we would be happy to educate, open and implement for you to start receiving Immediate Income. We look forward to working with you.

For more information about Maryland Immediate Annuities, click here.