Income that starts now

Immediate annuities, bought on the secondary market

An immediate annuity turns a lump sum into income that starts right away. A new one is priced at retail. On the secondary market you buy an existing, in-force annuity or a structured settlement payment schedule at a discount, so the same scheduled income costs less and carries a higher estimated yield, currently up to 8.50%.

See income streams for sale About assigned annuities

The basics

How an immediate annuity works

You pay a single lump sum, and the insurer sends you scheduled payments starting almost immediately, usually within a month to a year. That is the whole product: premium in, income out, no accumulation phase. It is formally a single premium immediate annuity, or SPIA, and retirees use it to convert savings into a paycheck they cannot outlive.

A new SPIA is priced at retail by the issuing carrier. The secondary market offers the same idea at a better entry price. An assigned annuity is an existing in-force contract reassigned to you, and a structured settlement payment stream is an existing schedule you step into, both bought at a discount to their scheduled value. The discount is your added yield. We explain the difference between what is a true annuity and what is a payment right on our page about whether a secondary market annuity is actually an annuity.

Where yields stand

Immediate income, priced against the risk-free rate

5-yr U.S. Treasury

4.23%

Risk-free, fully liquid

10-yr U.S. Treasury

4.49%

Risk-free, fully liquid

Secondary-market yield

up to 8.50%

Limited liquidity

Treasury yields as of July 2, 2026, U.S. Department of the Treasury (last available)

Available income streams

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GK005440WA LotteryLottery Life-ContingentFeb 2029 – Feb 20358.50%SC004867State of New HampshireGuaranteedMar 2027 – Mar 20347.50%HE016975American GeneralGuaranteedAug 2026 – May 20556.55%LA001150State of New HampshireGuaranteedJan 2028 – Jan 20296.50%

Immediate annuity questions, answered straight

What is an immediate annuity?

An immediate annuity is a contract you buy with a single lump sum that begins paying you income almost right away, usually within a month to a year. The insurer converts your premium into a stream of scheduled payments, often for a set number of years or for life. It is also called a single premium immediate annuity, or SPIA, and it is the simplest way to turn savings into predictable income.

When does an immediate annuity begin making payments?

Payments typically begin within 30 days to 12 months of funding, which is what separates an immediate annuity from a deferred one. You choose the start date and the schedule when you buy. On the secondary market, you can also step into an existing, already-running payment schedule, so the timing is fixed by the original contract rather than chosen at purchase.

What is a single premium immediate annuity (SPIA)?

A SPIA is the standard immediate annuity: one lump-sum premium in, a fixed schedule of payments out, starting almost immediately. There are no ongoing contributions and no accumulation phase. Pacific Structured Assets offers assigned SPIAs, which are existing in-force SPIA contracts reassigned to a new owner at a discount, so you buy the same guaranteed income for less than a new contract costs.

How can I get more income from an immediate annuity?

Buy on the secondary market instead of new. A newly issued immediate annuity is priced at retail, while an assigned annuity or a structured settlement payment stream is bought at a discount to its scheduled value, which raises the estimated yield to roughly 4 to 7 percent. The payments come from the same top-rated carriers. See current inventory or talk with our team at (800) 449-6311.

What these assets are, and what they are not

Guaranteed and life-contingent structured settlement payment rights, and lottery payment rights, represent the right to receive factored payments that Pacific Structured Assets purchases and assigns to investors through a court-approved process. They are purchased at a discount to their total scheduled payments.

These payment rights are NOT annuities, NOT insurance products, and NOT securities registered with the U.S. Securities and Exchange Commission. They are not bank deposits, are not FDIC-insured, and are not protected by any state insurance guaranty association. The industry term “secondary market annuity” refers to these payment rights and does not mean you are purchasing an insurance annuity contract.

You acquire the right to receive the payments, not the underlying annuity. The annuity itself does not change hands. Unlike the original structured settlement annuity, which may be shielded from creditors under applicable law, the assigned payment rights you purchase generally do not carry that creditor or bankruptcy protection.

Assigned annuities, offered as a separate product line, are existing insurance annuity contracts reassigned to a new owner through a change of ownership or an irrevocable change of payee.

These are long-term holdings with limited liquidity, and may not be suitable for every investor. There is no public trading market and no daily price. Resale or reassignment of a payment stream to another buyer may be possible, and Pacific Structured Assets can assist, but a resale is not guaranteed and the price it would bring is not guaranteed. Because the payments are fixed, that resale value moves with prevailing interest rates: an investor could realize a gain if rates have fallen since purchase, or a loss if rates have risen. These holdings are best suited to capital an investor can commit for the long term. Nothing on this website is tax, legal, financial, or investment advice. Consult your own advisors before investing.

Pacific Structured Assets, Inc. does not provide tax, legal, financial or accounting advice. The material on this website has been prepared for informational purposes only and is not intended to provide, and should not be relied on for, tax, legal, financial or accounting advice. You should consult your own tax, legal, financial or accounting advisors before engaging in any transaction, including the acquisition of factored structured settlement payments. Pacific Structured Assets is not registered with the Securities and Exchange Commission and is not licensed to sell insurance in any state.

Pacific Structured Assets

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Every offering is public: carrier, price, schedule, and estimated yield. Full payment schedules and available pricing come with a free account.

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