and that's perfectly OK for OP's MOM and neither OP is after her assetsAt least you're retired, else I'd suspect you're trying to sell something. The SPIA provider has likely calculated that they'll come out ahead most of the time since people will die before realizing the full benefit of the plan.
Why buy a SPIA?
Because it provides a higher monthly income than can safely come from a money market fund with regular monthly withdrawals. And it provides a guarantee that the payments will continue until the annuitant dies - a guarantee that can't provided by a money market fund.
A SPIA has pretty minimal commissions to the insurance agent and pretty minimal profits for the insurance company. (See my signature for how I know this to be true.)
That's why folks buy SPIAs.
Statistics: Posted by SP000 — Tue Feb 03, 2026 1:37 pm — Replies 21 — Views 940