Skip to content Skip to footer site map

smiling woman with shell necklace sitting on couch

What is a single pay longevity annuity?

It is a deferred income annuity which provides guaranteed1; future income in exchange for a single purchase payment. You simply make one purchase payment and select a future income start date. At the end of this "deferral period," you will begin to receive guaranteed monthly income payments for the rest of your life.

Why consider a single pay longevity annuity?

The main appeal of this type of annuity is that you no longer have to worry about outliving your money because this product serves as a financial backstop. Like a pension plan, the annuity can help provide a predictable guaranteed1 lifetime income stream.

1 All guarantees are subject to the financial strength and claims-paying ability of Foresters Life Insurance and Annuity Company.
2 Under current federal tax law, the portion of each annuity payment that represents earnings is taxed as ordinary income.
3 Chosen at the time of purchase.

Annuity contracts contain certain exclusions and limitations as well as terms for keeping them in force and for the payment of benefits. For complete costs and details, see your Representative. Contract guarantees apply only to certain annuity features and are subject to the claims-paying ability and financial strength of Foresters Life Insurance and Annuity Company.

Contract availability and features are subject to eligibility criteria and state variations. A longevity annuity is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation (FDIC) or any other government agency.

Neither Foresters Financial nor its affiliates provide legal, tax or estate planning services. Should you require such services, you should consult a legal, tax or estate planning professional.

The Single Pay Longevity Annuity is approved in these states with the following form numbers: SPDA-1 (10/13)(CA), SPDA-1 (10/13)(CT), SPDA-1 (10/13)(DE), SPDA-1 (10/13)(DC), SPDA-1 (10/13)(FL), SPDA-1 (10/13)(ND), SPDA-1 (10/13)(NY), SPDA-2 (10/13)(CA), SPDA-2 (10/13)(CT), SPDA-2 (10/13)(DE), SPDA-2 (10/13)(DC), SPDA-2 (10/13)(FL), SPDA-2 (10/13)(ND), SPDA-2 (10/13)(NY).

The following states are approved as form number ICC13-SPDA-1 (10/13) and ICC13-SPDA-2 (10/13): AL, AR, AZ, CO, GA, HI, IA, ID, IL, IN, KS, KY, LA, MA, MD, ME, MI, MN, MO, MS, NC, NE, NH, NJ, NM, NV, OH, OK, OR, PA, RI, SC, TN, TX, UT, VA, VT, WA, WI, WV, WY

The Single Pay Longevity Annuity is issued by Foresters Life Insurance and Annuity Company, 40 Wall Street, New York, NY 10005, 800 832 7783 and distributed by Foresters Financial Services, Inc., 40 Wall Street, New York, NY, 10005, 800 423 4026.

 


Ready to take the next step? Find an advisor/agent