An annuity is a financial product whereby you invest a lump sum of money with an insurance company and in turn they provide a guaranteed income payment for a specific length of time. An example would be a life annuity which pays a guaranteed income payment for life.
Consider Sun Life Income Series for Guaranteed Lifetime Income in Retirement It may be worth considering Sun Life Income Series for Guaranteed Lifetime Income in Retirement. This product may be suitable for both pre-retirees as well as those already retired. If you want more guaranteed income than Canada Pension Plan (CPP), or Old Age Security (OAS) and private […]
Consider Empire Life Class Plus 3.0 for Guaranteed Lifetime Income in Retirement It may be worth considering Empire Life Class Plus 3.0 for Guaranteed Lifetime Income in Retirement. This product may be suitable for both pre-retirees who plan to retire within the next 20 years as well as those already retired. If you want more guaranteed income than […]
Annuity Payout Rates I read an interesting US technical article on Annuity Pricing Sensitivity and while the scope of the article is very detailed, one chart showing the payout rate versus age got my interest, as shown below. As I get a lot of requests for annuity quotes, I thought Canadians might find the data interesting if […]
The Simple Rule That’s Not So Simple I came across an article recently entitled “The simple rule that keeps income flowing during retirement “ and thought I would present an alternate solution for the retiree using a life annuity. To ensure that the retiree doesn’t run out of money over their lifespan (from age 65 to age […]