>>>Single Premium Deferred Annuity



Single Premium Deferred Annuity (SPDA) helps you accumulate money for retirement and other financial needs on a tax-deferred basis. It requires a one-time minimum premium deposit of $10,000 and there are no sales charges; meaning 100 percent of your money is earning tax-deferred interest from the day it is received until the day it is withdrawn.*

By investing primarily in high-quality corporate and U.S. Government bonds and notes, Sons of Norway can offer this income product that will never receive less than 1 percent interest.

Who is it for?

The SPDA is ideal if you’re changing jobs or retiring – simply rollover your retirement plan to start one. Rollovers are tax-free and ideal for 401(k), 403(b), 457, SEP, KEOGH, Simple Plans and other employer-sponsored Qualified Retirement Plans. The SPDA is also ideal for your traditional, Roth or Simple IRA.

Unique advantages of the deferred annuity

  • Deferred taxes, maximum interest: Taxes are deferred 100% while you earn interest on your principal, interest on your interest, and interest on money that otherwise would have been paid in taxes. The only time taxes are assessed is when the benefits are paid.
  • Avoid probate: when death occurs, the accumulated funds are paid out to a named beneficiary, thus avoiding the expense and delay of the probate process.
  • Single Premium Deferred Annuity is a high-grade, low-risk product offering a competitive interest rate and a first year interest bonus.

*Withdrawals during the first five years in excess of permitted partial free withdrawals are subject to a surrender charge. Withdrawals prior to age 59½ may be subject to an IRS 10% tax penalty in addition to any surrender charges.

Want to learn more about a Single Premium Deferred Annuity?

A Sons of Norway Financial Benefits Counselor can help you to determine if this annuity is right for you. Get your free Financial Review and get started toward a more secure tomorrow.

*This page describes certificate series SPDA 10.