You bring up an often repeated topic here of whether it is worth buying a SPIA. I'm in the "no way" camp since I already have the best COLA'd annuity on the market which is SS. It's "guaranteed" by the US government so only time will tell how good that guarantee is. I also have a collection of small pensions that when added to my SS I have the bulk of my basic living expenses covered (sans luxuries).
I also wouldn't buy a SPIA because (1) the guarantee is, at best, for $100,000 or $200,000 of principle which doesn't buy that much in the way of an annuity payment, (2) the "guarantee" is by a collection of insurance companies which I really don't trust will be able to make good on any guarantee if "the big one" really does hit, (3) inflation adjusted SPIAs are very costly and without inflation adjustment the "great" payment now can easily be pathetically inadequate in a few decades and (4) the typical annuity payment is based on a lower rate of return than would typically be expected for a balanced portfolio.
An SPIA is an insurance company's product based on the premise they can adequately predict the mortality of their customers and that they can invest in a balanced stock/bond portfolio that beats their required payments. Out of their return they pay lots of salaries, commissions, business expenses and build great big fancy buildings.
Some people here like SPIAs but I can't recall any of the old timers here recommending them more than as a small part of any plan. Nobody (that I can recall) has ever supported going "all in" with an SPIA.