SPDAs (Single Premium Deferred Annuity) are always purchased with a single premium payment. Your SPDA annuity will grow with guaranteed interest until you choose to begin making withdrawals. Your interest rate for your Single Premium Deferred Annuity is established at the time of issue. Our SPDAs offer a range of initial interest rate guarantees. After the initial rate guarantee period, your rate may be adjusted each year but may never fall below the guaranteed minimum interest rate at the time of issue. The potential benefits of an SPDA are:

• Guaranteed Safety of Your Principal and Interest. Your SPDA annuity is guaranteed by a life insurance company.
• Federal Income Tax Deferral. Federal Income Tax deferral means postponing your taxes on interest earnings until a future point in time. In the meantime, you earn interest on the money you are not paying in taxes. You can accumulate more money, which ultimately will provide you with a greater income.
• Simplicity. There is no withholding tax or income tax due while your Single Premium Deferred Annuity is accumulating. Only when you begin making withdrawals from your SPDA annuity will you have taxable income reported. You determine that date.
• Flexible Payment Options. At the time you select to make withdrawals from your SPDA annuity, you may have a number of options available. You may be able to choose a lump sum or a series of payments.
• Avoid Probate. If you die prematurely, your SPDA annuity may be paid directly to your named beneficiary without the delay and expense of probate.