Meet Hiroshi, a 65-year-old businessman living in Japan who has just sold his business for the equivalent of $2,000,000. He wants to:
Hiroshi decides to put $1,000,000 into a SPIA. This product provides options to receive income for 10 years, 20 years or multiple lifetime options. Hiroshi selects a 20 year period certain that will provide him with a predictable income stream. If Hiroshi dies before the end of the 20 year period, his beneficiaries will receive the payments for the remainder of the term.