Claim: Both single premium annuities which allow for a single deposit and flexible premium annuities which allow for multiple contributions are sometimes offered by a defendant as part of a structured settlement to resolve a personal injury tort claim.
Evidence: A single premium deferred annuity (SPDA) allows a single deposit or premium at the issue of the annuity with only investment growth during the accumulation phase. A flexible premium deferred annuity (FPDA) allows additional payments or premiums following the initial premium during the accumulation phase. Annuities can be purchased to provide an income during retirement, or originate from a structured settlement of a personal injury lawsuit.