When does an annuitant typically begin receiving benefit payments from an immediate annuity purchased with a single premium?

An immediate annuity is designed to start paying benefits to the annuitant shortly after the premium is paid, typically within a month. When a single premium immediate annuity is purchased, the expectation is that the benefit payments will commence almost right away.

Therefore, the correct choice indicates that benefit payments usually begin immediately or very soon after the premium is paid. However, industry standards often allow for a payment commencement period that can be defined as starting "immediately," aligning closely with the interpretation of benefits commencing within a month.

While other options suggest waiting periods of one, three, or six months, these are not typical for immediate annuities, which are meant to provide a stream of income without a long waiting period. Thus, payments usually start within one billing cycle, making the assumption that "immediately" encompasses this prompt initiation of benefits.