When you are shopping for immediate annuity rates or immediate annuity quotes it is good to understand that this is the most fundamental, pure form of an annuity.
Single Premium Immediate Annuities, acronym – SPIA, date back a couple of thousand years and it is what we today commonly call an immediate lifetime annuity. Essentially, the way an immediate life annuity works is by paying a lump sum of money in exchange for an income stream based on a lifetime repetitive income stream. In essence, you are purchasing a **guaranteed stream of income.
