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    You may think that if you’re single, you don’t need life insurance. But do you have aging parents who may need to rely on you someday for financial support? How about major co-signed debt? Have you thought about setting something aside for your own future?

    Learn more about how you can protect your loved ones with life insurance and fixed annuities.

    Married life brings with it a world of joy. It also brings a world of challenges and responsibilities. Whether you're just starting out or you're approaching a major milestone in your marriage, chances are, you have something worth protecting.

    Learn more about protecting your spouse with life insurance and planning for the future with fixed annuities.

    Your family relies on all of your contributions, whether financial or emotional. You may be a breadwinner, but bread isn't the only thing you bring to the table. If the worst should happen, life insurance can help you protect your family even after you're gone.

    Learn more about safeguarding your family's dreams with life insurance.

    You've spent a lifetime building your family alongside your dreams. Now, let us help you embark on another set of dreams. In addition to protecting your loved ones now, life insurance and fixed annuities can also guarantee an estate for your heirs.

    As they say, the best is yet to come. Learn more about protecting whatever comes next in your life.

    Your business is your legacy. You've built it, nurtured it and poured your life into it. Life insurance can help keep your business going if you're gone, providing coverage for buy-sell agreements and in some cases build a cash value that you can borrow against if things get tough.

    Learn how you can protect your great American dream with life insurance.

    If you aren't sure about the amount of life insurance coverage you need, use the life insurance calculator to help get you started.

    This calculator will give you an idea of how much coverage you will want to look into getting to help meet your financial security goals.

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    Gleaner provides life insurance and fixed annuity solutions to meet your needs. Learn more about how our products can help you protect all of the important things in your life.

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    Make a difference in your community. Give and Grow with Gleaner Life.

    As a faith-based not-for-profit organization, Gleaner helps to better our members' communities by providing the funding to complete volunteer projects. Explore how our members help us to be a major force for good.

    Funded entirely by Gleaner, our arbors or service clubs allow members to get involved in their communities by volunteering and making donations to charitable causes without the hassle of fundraising.

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    Gleaner Life Insurance Society provides both financial security and volunteer opportunities to members. Our competitive life insurance and annuity products help members to safeguard their dreams now and in the future.

    Much of what makes Gleaner what it is today was set in motion more than 128 years ago when Grant Slocum, a farmer's son, had a vision for a fraternal society that would protect farmers and their families.

    In addition to life insurance and annuity products, Gleaner members and their families enjoy a variety of member benefits, including shopping discounts, scholarship opportunities and family-friendly events.

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Single Premium Immediate Annuities

Single Premium Immediate Annuity (SPIA)

The Gleaner Life Foundation Series® Single Premium Immediate Annuity (SPIA) is a simple way for you to establish a guaranteed stream of income. In exchange for a single lump-sum premium, Gleaner Life promises to make periodic payments for a timeframe chosen by you. The stream of payments provides immediate income that begins during the first year. 

Product Features:

  • Minimum Single Premium: $25,000

  • Issue Ages: 5-95

  • Payment Modes: Monthly, quarterly, semi-annually, or annually

  • Payment timing:
    • Fixed Period: Beginning or end of mode
    • Life Contingent: End of mode only

  • Payment options:
    The Foundation SPIA offers 14 different payment options within three general categories.

  • Fixed Period: Payments are made for the selected period and then cease once the period is completed. There are five available Fixed Period options:
    • Five Year Fixed Period
    • Seven Year Fixed Period
    • Ten Year Fixed Period
    • Fifteen Year Fixed Period
    • Twenty Year Fixed Period

  • Single Life: Payments are made for the annuitant’s lifetime and provide a stream of income that the annuitant can never outlive. There are six Single Life plans, including five that make remaining payments to a beneficiary if the annuitant dies prior to the end of the guaranteed period. The six payment options based on a single life are:
    • Life Only
    • Life with Five Year Period Certain
    • Life with Ten Year Period Certain
    • Life with Fifteen Year Period Certain
    • Life with Twenty Year Period Certain
    • Life with Premium Refund

  • Joint Life with 100% to Survivor: Payments are based on the life expectancy of two annuitants. When one annuitant dies, the second annuitant will continue to receive 100% of the payment for the rest of his/her life. There are three options:
    • Life Only
    • Life with Ten Year Period Certain
    • Life with Twenty Year Period Certain

Premium:
Single (one-time payment, no additional premium required)
Benefits:

Immediate income stream

Selection of 14 payment options

Competitive interest rates

SPIA Foundation Consumer Guide Click to open in new window

Foundation SPIA Form No. ICC22-IA with state-specific variations.

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Gleaner Life Insurance Society is domiciled in Adrian, Michigan, and licensed in AZ, FL, GA, IA, IL, IN, KS, KY, MI, MO, NC, NE, OH, PA, SC, TN, VA, WI and WV. 

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