What Is Single Premium Lifetime Income?

This option lets you take a one-time payment — often from savings or a retirement account — and convert it into guaranteed monthly income for life.


It’s simple, fast, and ideal for people who don’t want to manage multiple moving parts in retirement.

How It Works

  • You invest a lump sum
  • The insurer provides lifetime income — starting immediately or at a future date
  • Income can be customized for individuals or couples

Why It Works for Retirees

A black and white drawing of a hand holding a dollar bill.

Simple Setup

One payment — no ongoing maintenance or contributions.

A hand holding three stacks of coins with a dollar sign on them.

Predictable Income

You know exactly what you’ll receive each month.

A padlock with a dollar sign inside of it.

Safe from Market Swings

Your income is protected from stock volatility.

A woman is holding a coin with a dollar sign on it.

Spousal Support Options

Continue income for your spouse if you pass first.

Single Premium FAQs

  • What is a single premium lifetime income plan?

    It’s a retirement income strategy where you make one lump-sum payment and receive guaranteed monthly income for life.


    It’s a simple, “one-and-done” way to create predictable retirement income.



  • Where does the lump sum usually come from?

    Most people use money from savings, a 401(k), IRA, or other retirement accounts.

    We help you evaluate what portion of your assets makes sense to use.



  • When do payments start?

    You can often choose to start income immediately or at a future date.


    Deferring income may increase the amount you receive monthly.



  • What happens to the money if I pass away early?

    Many plans include refund or beneficiary options.


    If you pass away early, your remaining value can go to your spouse or heirs — depending on the plan you choose.



  • Can this cover both me and my spouse?

    Yes. Joint lifetime income options are available to ensure both spouses are covered, even if one outlives the other.

  • Is the income guaranteed?

    Yes. Once your plan is in place, the income is guaranteed for life — not tied to the stock market or interest rate changes.

  • Can I add more money later?

    No. As the name suggests, this is a single premium plan — meaning one upfront contribution.


    If you’re looking for flexibility, we’ll show you options that allow for future additions.