The Navy Mutual Single Premium Immediate Annuity (SPIA) provides a guaranteed stream of income over a fixed period of time or for your entire life. For Members in retirement or approaching retirement, the SPIA provides safety against volatile market changes.
With the SPIA, the Member pays a one-time premium deposit, ranging from a minimum of $10,000 up to a maximum of $1,000,000 per contract. The SPIA is a non-qualified fixed-annuity contract that returns a guaranteed annuity payment based on the payment option chosen. Individuals may choose to receive income monthly, quarterly, semiannually, or annually.
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If you have any questions about the Navy Mutual Single Premium Immediate Annuity, please call us at 800-628-6011.