Ole_Griff
New Member
Which company has the best performance on a spia? I’m in Kentucky and have a lady that is wanting to fund her own pension. Wanting to get the best numbers thanks!
Best Spia
- Thread starter Ole_Griff
- Start date
Ask your annuity IMO. They should have CANNEX which will spreadsheet SPIAs for you.
Rates are changing every week so unless she's doing the app right now, chances are the carriers that anyone posts here could change by the time she applies.
- 4,882
Does she already have a pension that she is going to take a lump sum offer & try to create her own? If so, likely a very bad idea math wise. Existing pension calculations tend to have outdated old interest rates & outdated life expectancy tables. Both of which tend to be in the person's favor compared to SPIA.
If she has her own cash she is trying to get lifetime income from, SPIA rates are pretty low overall. Here is a website to give you some current carrier rates:. Get Your Best Immediate Annuity Quote Instantly Online! Without any sales calls. Your phone# is not required. — ImmediateAnnuities.com
Might instead want to get some index annuity or variable annuity quotes with lifetime income riders to see
- 2,291
Whichever you choose, do NOT use VOYA. I placed 100K with them as mom approached 90. I cannot tell you how many times I asked that if Mom died was there a charge or surrender charge and was told NO each and every time. Mom received 3 payments and died. She had cashed 2 of the checks and VOYA put a stop on check #3. They sent a check of $82000 which had a $16000 deduction in principle and told me the people who gave me the answers to my questions were not agents and could not disclose the charges. It took 8 months and an inquiry from the Birginia BOI before VOYA caved. I will NEVER use a VOYA product again
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