The owner of a single premium deferred annuity is entitled to do all of these EXCEPT?

In the context of a single premium deferred annuity, the key characteristic is that it is funded through a single upfront payment rather than multiple contributions over time. Therefore, the owner of a single premium deferred annuity does not have the option to make multiple premium payments, which distinguishes this type of annuity from others that allow continued investment.

The other options are entirely consistent with the features of a single premium deferred annuity. After a specified accumulation period, the owner is indeed entitled to withdraw funds, assuming they comply with any potential penalties or restrictions. Additionally, they can receive periodic income payments once the annuity is ready to begin payouts, as well as convert the annuity to a payout annuity, allowing for the transformation of the asset into a regular income stream. These rights and options enhance the appeal of such financial products by providing flexibility in managing retirement income.