Financial Security
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Request a No Obligation ReviewWhat can be more attractive than the simplicity of Life Annuities? Annuities are extremely attractive due to its simplicity and should not be underated. These are fully guaranteed income producing products, that pay you a fixed sum of money over a specified period of time.
Benefits of Life Annutities
The major benefit of Life Annuities are the guaranteed income, which eliminates the worry for the holder. There is no need to worry about investments or make decisions beyond the initial setup period. In exchange for a lump sum transfer (from a pension, investment account, real estate, etc.) Life Annuities will pay you a financial payment over your life, together with your partner, or for a fixed period of time. Life annuities provide peace of mind since they allow you to know exactly what your income payments will be, allowin you to budget effectively. Life Annuities cannot be cashed in, which is both a benefit and a disadvantage. This is a benefit since you will know that your income will remain secure, and a disadvantage for the event you may need cash for emergency purposes. Other disadvantages include lower internal rate of return, offset by the guaranteed payment. Life Annuities provide security against market and interest rate fluctuations, and can be structured for tax advantages depending on your needs. Considerations are the lump sum payment available, market situation governing the payment amount, and your age and health.
Types of Life Annutities
The following are the major types of annuities available in Canada:
| Life Annuities | Income payments for an individual's entire life. |
| Joint Annuities | Continues income payment to the survivor for their entire life. |
| Term Certain Annuities | Income payment for a certain term period of time, such as 20 years. |
Investigate Guaranteed Life Annuities
Investigate how Guaranteed Life Annuities could benefit your overall Retirement Plan. Click the Insurance Button now to speak with one of our advisors who can review your options with you.
