Guaranteed Income in Your Retirement — That's a Single Premium Immediate Annuity
Quickly convert your principal payment into a steady source of monthly income that will continue for the rest of your life or for a certain number of years guaranteed.
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A Single Premium Immediate Annuity
You worked, you played, and you raised a family. Saving money was hard work, but you did it. Now is the time to make sure all of your hard work pays you back. A Single Premium Immediate Annuity from State Farm® guarantees a monthly income for the rest of your life. For over eighty years we've helped our customers protect their financial futures. Take the guesswork out of retirement income and let us do the hard work for you.
- "Single premium" means you fund the annuity with a lump sum payment.
- "Immediate" means you start receiving income one month after policy issue.
Did you know?
Many customers who have purchased a Single Premium Whole Life policy or another limited pay policy from State Farm have also expressed interest in this type of annuity.
You might also be interested in this annuity if you want to convert a tax-qualified retirement account, a matured CD, or an inheritance into an immediate stream of income.
Why Buy a Single Premium Immediate Annuity
- You receive a guaranteed monthly stream of income, or you can choose quarterly, semi-annual, or annual payments.
- You pay no fees beyond the initial one-time policy fee.
- You can choose the income payment option that best suits your needs.
- Minimum single premium: $25,000
- Maximum single premium: $1,000,000
Higher premiums may be allowed with State Farm approval. Contact your State Farm agent for more information.
State Farm does not provide tax, legal, or investment advice. Please refer to a tax, legal, or investment advisor for advice regarding your personal circumstances.
State Farm International Life Insurance Company Ltd.
Licenced in Alberta, New Brunswick and Ontario.