ANNUITIES
At MPower, we offer annuity solutions designed to provide security and flexibility for your retirement. Our Single Premium Deferred Annuity (SPDA) allows you to make a one-time lump-sum payment that grows tax-deferred until you’re ready to receive income. For those who prefer to contribute gradually, our Flexible Premium Deferred Annuity (FPDA) offers the freedom to make multiple payments over time while still enjoying tax-deferred growth. And if you need income right away, our Immediate Annuities deliver guaranteed payments starting within 30 days of your investment. Whatever your retirement goals, we have the right plan to help you achieve lasting financial peace of mind.
Single Premium Deferred Annuity (SPDA)
An SPDA is a retirement product where you make a one-time lump-sum payment to an insurance company, and your funds grow tax-deferred until you choose to start receiving income. This option is ideal for individuals who want to invest a large amount upfront and allow it to accumulate over time for future retirement income.
Flexible Premium Deferred Annuity (FPDA)
An FPDA allows you to make multiple contributions over time instead of a single payment. Like an SPDA, the funds grow tax-deferred until you begin withdrawals. This flexibility makes it a great choice for those who prefer to build their retirement savings gradually while maintaining control over contribution amounts and timing.
Immediate Annuities
An immediate annuity begins paying income almost immediately after a lump-sum payment is made, typically within 30 days to one year. It’s designed for individuals who need a guaranteed income stream right away, such as retirees looking for predictable monthly payments for life or a set period.