Guggenheim Provider SPIA is an annuity product that produces an immediate stream of income upon contract issue. The investor’s lump sum premium is converted into a predictable and reliable stream of income. Depending, income payouts start anytime between 30 days and 12 months after contract issue. The Provider Single Premium Immediate Annuity may be a great product for individuals who are looking to convert a lump sum amount of money into a steady income stream.
Guggenheim Provider Income Options
When you buy your Guggenheim Provider SPIA, you have to select for how long you intend to receive your guaranteed income stream. You may receive income payouts for a specific period of time, or for ‘life’.
Annually Increasing Payments
You may select a type of cost-of-living adjustment (COLA) at contract issue to allow your stead income stream to keep up with inflation. Every year, at contract anniversary, your monthly payment will be increased by a percentage figure ranging 1-15%.
Guggenheim Provider SPIA Advantages
- Security – with this immediate annuity, anyone can convert a lump sum amount of money into a guaranteed income stream for retirement financial security.
- Simplicity – this is a fixed annuity, which means you don’t have to concern yourself with managing investments, choosing interest crediting strategies, etc. For investors who are looking for a straightforward immediate annuity, the Provider SPIA from Guggenheim Life may be worth a look.
- Principal Protection – your principal is protected and is not subjected to fluctuating financial markets.