Life Annuities
Lifetime Annuity - Term-Certain Annuity
An annuity provides an income for the rest of your life, or for a set period of time.
With a Life Annuity, you cannot outspend your savings and your income amount will always be the same.
For those coming up on retirement, a life annuity could be a key asset to provide a secure a predictable financial future for your golden years.
About Life Annuities
Life annuities are financial products that provide a guaranteed income stream for a specified period or for the rest of your life, in exchange for a lump sum payment or a series of payments. With a life annuity, you can enjoy peace of mind knowing that you’ll receive regular payments, regardless of market fluctuations or changes in interest rates. Life annuities can be an essential component of your retirement income strategy, helping to supplement other sources of income and ensure a comfortable standard of living in retirement.
How do Annuities Work?
Life annuities are purchased from an insurance provider. The provider takes this sum and invests it in a portfolio, which then generates income. You then receive your income at a fixed rate.
Annuity Types
Single-Life Annuity
Pays an income to the annuitant for the extent of their life
Joint-Life Annuity
There are 2 annuitants rather than 1 (usually a spouse or partner). Income is payed out according to policy specifications. When annuitant 1 dies, the policy continues to pay out to annuitant 2.
Term-Certain Annuity
Pays an income to the annuitant for the extent of the policy. The buyer determines the policy life at time of purchase.
Will a Life Annuity Fit In My Retirement Plan?
We can help you understand how a Life Annuity can fit in your retirement. Have a chat with us about your retirement situation and together will can find a solution to achieve a secure income for your golden years!
Wondering what your income could look like? We offer free quotes via our Annuity Form. Fill it out bellow.