Stable income for life
Lisa and Mike are retired and have IRA accounts. Now they want to use these funds for monthly living expenses.
It's easy to turn their IRAs into guaranteed* income for the rest of their lives.
We can help you build a retirement solution you can count on.
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*Guarantees are subject to the claims paying ability of Church Life Insurance Corporation
Income LifeStream Single Premium Immediate Annuity (SPIA)
With a single contribution, you can establish an immediate, guaranteed, steady stream of income for as long as you choose, including for life. You can specify lifetime payments for another person as well. You may also choose to provide income to a beneficiary upon your death.
How can I fund an SPIA?
1. Roll over retirement savings accounts
You can open a SPIA with retirement funds that have qualified for IRS tax deferral, such as funds from and IRA and other 401(k) and 403(b) plan. Your monthly payments will be taxable as income (unless your annuity is funded with Roth IRA assets*).
2. Use after-tax dollars
You may contribute money from bank savings accounts, investments, proceeds from the sale of the house, or an inheritance. In general, only the earnings portion of withdrawals is taxed. Be sure to consult your personal tax or financial advisor for guidance.
What are my choices for receiving income?
As monthly payments for life:
- For one person. Payments stop when that person dies.
- For one person with a beneficiary benefit if the payee dies within 10, 15, or 20 years.
- For two people. Monthly payments are made as long as either is alive. When one dies, the survivor receives 50% or 100%. Payments stop when both have died.
- For two people with a beneficiary benefit if both die within 10, 15, or 20 years.
Download brochure 
for details about funding and payout options, tax consequences, and more.
*Roth IRA withdrawals are generally non-taxable, as long as they meet IRS requirements.
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