Security Benefit SIA Annuity
The Security Benefit SIA annuity is one the highest income paying indexed annuities available. This product should be one of the first choices for clients that need guaranteed future income from an indexed annuity. The account crediting methods on this product are nothing out of the ordinary but the amount of income it can produce puts it in a unique class.
Please note: you should not confuse this product with the Security Benefit Total Value Annuity. For information on the Total Value Annuity CLICK HERE. The SIA annuity is available in most states including tougher annuity states such as Connecticut. The bonus on the product will vary depending on the state of issue however, it is wise not to overvalue a product bonus when looking for the highest income payout. Comparing income annuities when looking for income is easy because you can simply compare to see which product pays the most income in a given year. The rest of the bells and whistles really don’t mean much.
Another unique feature on the SIA product is that you may take the income immediately. You will find that with Most income riders you cannot take income out until the end of the first year. It should be noted that is someone is looking for immediate income, it may be best to show for a SPIA with installment refund as it will likely produce a higher payout immediately. The SIA will certainly be the best option after 1 to 2 years of deferral.