Single-Premium Deferred Annuity for Simple, Secure Investing

The Navy Mutual Single Premium Deferred Annuity (SPDA) is a fixed annuity that provides tax-deferred interest accumulation on a single lump-sum deposit between $10,000 and $1,000,000. The SPDA features a "lock-in period” option of 2, 5, 7, or 10 years, with interest rates that are fixed for the duration of the lock-in. SPDAs pay better interest rates for longer lock-ins and higher premium amounts. When an annuity is purchased with a lock-in period of either seven or 10 years, Navy Mutual will add an automatic bonus, in the amount of 1% of your single premium contribution.

You cannot lose money with a Navy Mutual annuity. In addition to the return of premiums paid (less withdraws), the minimum guaranteed interest credited to the contract will be 1%.

After the SPDA has been in effect for one year, the owner may make annual withdrawals of up to 10% of the accumulated value (up to four withdrawals may be made each year without charge). Once the plan reaches the end of the lock-in period, the annuity owner can opt to continue the annuity or cash out the annuity in staggered payments or a lump sum. Earnings generated within a Navy Mutual SPDA do not create an income tax liability until payments are actually distributed from the annuity.

Features SPDA
Minimum Single-Premium Deposit $10,000
Maximum Single-Premium Deposit $1,000,000
Surrender Charges None
Interest Rate Lock-in Periods 2, 5, 7 & 10 Years
Premium Bonus Available Yes, for 7 & 10-year Lock-in Periods
Market Value Adjustment Yes, for Lock-in Period
Minimum Interest Guaranteed 1% Annual Effective Rate

Learn more about the Navy Mutual Single-Premium Deferred Annuity

If you have any questions about annuities, contact Navy Mutual today.