What does SPDA mean? Read on to discover the definition & meaning of the term SPDA - to help you better understand the language used in insurance policies.
Single-premium deferred annuity (SPDA) is a policy that is purchased at once with a lump-sum payment. It is tax-deferred during its saving phase. The payout can either be guaranteed or dependent on the performance of the investments made during the saving phase.
We hope the you have a better understanding of the meaning of SPDA.