Kansas City Life Single Premium Immediate Annuity Review
Retire comfortably with income for life
Few things in life are guaranteed – shouldn’t your retirement income be one of them?
Kansas City Life Insurance Company’s Single Premium Immediate Annuity (SPIA) can provide you with guaranteed income for life – so you never have to fear running out of money, especially during retirement.
Don’t take chances with your retirement income
As retirement peers over the horizon, you don’t want the sun to set on your financial dreams. With a Single Premium Immediate Annuity (SPIA), you can live confidently knowing your income stream will never run dry.
With a SPIA from Kansas City Life Insurance Company, you can rest assured knowing consistent, reliable income is paid to you on a schedule that you determine. After you make one single premium payment, simply select the payout option that works for you. You can begin receiving payouts as early as 30 days from the contract issue date, or you can elect to receive payouts every year, for a specified period of time or for the rest of your life. That’s income that can come in handy, especially during retirement.
Income that meets your needs
Like a regular paycheck, your Single Premium Immediate Annuity will provide predictable income you can count on. If economic conditions falter and markets suffer, your SPIA will continue to provide consistent income payments.
Valuable features
You can purchase a SPIA from Kansas City Life with a one-time premium payment as little as $2,000. Your annuity payments may begin as early as 30 days after your contract issue date.
SPIAs are available to purchase for anyone up to 85 years old, and there are no medical exams or underwriting processes to complete. Payments are paid to you based on a schedule you set – annually, semi-annually, quarterly or monthly. A variety of payout options are also available so you can choose the one best for you.
You choose how to receive your income
When it is time to sign your SPIA contract, you will have several payout options to consider. You choose the option that works for your needs at the time of purchase.
Life only
You (or a designated recipient) receive regular income payments until your death. There is no guaranteed period and no guaranteed total payment amount.
Certain and life
Payments are made for a specified number of years (determined by you, with a minimum of three years and a maximum of 30 years) and continue as long as the annuitant lives.
Installment refund
Payments are made until the total payments equal the amount of proceeds applied and continue for the rest of the annuitant’s life.
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Certain period
Payments are made for the number of years chosen by the annuitant. (The annuitant may choose a desired income amount which determines the length of the contract, based on the single premium amount invested.)
Joint and survivor life
Payments are made during the lifetime of two persons. Payments continue until the death of both recipients.
Joint and survivor certain and life
Payments are made for a specified number of years (determined by you with a minimum of three years and a maximum of 30 years) and continue until the death of both recipients.
Is Kansas City Life Insurance Company’s Single Premium Immediate Annuity right for you?
If you are looking for an immediate guaranteed income stream, Kansas City Life Insurance Company’s Single Premium Immediate Annuity may be the right product for you. You defer the risk and gain the benefits of having income when you need it.
Act now to gain immediate income
There’s no better time than right now to see how a Single Premium Immediate Annuity from Kansas City Life may help your retirement portfolio. Your Kansas City Life representative can help ensure your family’s future financial security and determine the best plan for accomplishing your goals.
We’ll be with you...We’re Kansas City Life
When Kansas City Life makes a promise, we stand behind it. Since 1895, we have assisted policyholders through world wars, the Great Depression and various periods of recession and inflation.
Kansas City Life’s reputation is built on integrity, sound investment strategies and honest business practices. To us, integrity is not an outdated notion in today’s fast-paced world. It is the guiding force behind every decision we make. Every product we sell is backed by more than 115 years of quality service and financial security.
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