Annuity<\/h3><\/div><\/div><\/div>\nA<\/span>n annuity is an insurance product that pays you periodic income payments in exchange for your premium payment. It can be used as part of your overall retirement strategy. Depending on the type of annuity, it may help you grow your retirement savings, protect your savings from loss, and offer death benefits to protect your beneficiaries. An annuity is like a reverse life insurance policy that insures you against outliving your money. In exchange for a lump-sum premium, an insurance company – guarantees to pay you an income for life or as long as the annuity contract specifies.<\/p>\nCanadians are living longer than ever before, thanks to medical advancement. That’s good news. But if you’re thinking about retirement you have to ask yourself:<\/p>\n
\n- Will I have enough savings to last throughout retirement?<\/em><\/li>\n
- Will I always be able to cover my basic living expenses?<\/em><\/li>\n<\/ul>\n
Fortunately, a payout annuity can help to answer those concerns by converting some of your savings into a guaranteed lifetime income stream. And if you’re saving on your own, payout annuities is one of the best ways to get that guarantee.<\/p>\n
You can receive a guaranteed stream of income for life, or for a fixed term up to age 90, by converting all or part of your RRSP into an annuity. An annuity offers stable income, but you lose flexibility by locking in at a specific interest rate. There are several different types of annuities that may be appropriate depending on your situation, including insured annuities. You may even wish to convert a portion of your RRSP into an annuity, while putting the rest into a RRIF.<\/p>\n<\/div><\/section>\n
Features and Advantages of Annuities<\/h3><\/div><\/div><\/div>\n\n- Receive a guaranteed income for life or for a specific period of time.<\/li>\n
- Your income will be secure from both financial market and interest rate risk.<\/li>\n
- You can receive a guaranteed rate of income that is higher than many other income generating investments.<\/li>\n
- If you use non-registered savings to buy your annuity, you could also benefit from preferential tax treatment.<\/li>\n<\/ul>\n<\/div><\/section>\n<\/span><\/span><\/div>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"content-type":"","footnotes":""},"class_list":["post-3419","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/financial-advisory.ca\/index.php\/wp-json\/wp\/v2\/pages\/3419","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/financial-advisory.ca\/index.php\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/financial-advisory.ca\/index.php\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/financial-advisory.ca\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/financial-advisory.ca\/index.php\/wp-json\/wp\/v2\/comments?post=3419"}],"version-history":[{"count":7,"href":"https:\/\/financial-advisory.ca\/index.php\/wp-json\/wp\/v2\/pages\/3419\/revisions"}],"predecessor-version":[{"id":4271,"href":"https:\/\/financial-advisory.ca\/index.php\/wp-json\/wp\/v2\/pages\/3419\/revisions\/4271"}],"wp:attachment":[{"href":"https:\/\/financial-advisory.ca\/index.php\/wp-json\/wp\/v2\/media?parent=3419"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
A<\/span>n annuity is an insurance product that pays you periodic income payments in exchange for your premium payment. It can be used as part of your overall retirement strategy. Depending on the type of annuity, it may help you grow your retirement savings, protect your savings from loss, and offer death benefits to protect your beneficiaries. An annuity is like a reverse life insurance policy that insures you against outliving your money. In exchange for a lump-sum premium, an insurance company – guarantees to pay you an income for life or as long as the annuity contract specifies.<\/p>\n Canadians are living longer than ever before, thanks to medical advancement. That’s good news. But if you’re thinking about retirement you have to ask yourself:<\/p>\n Fortunately, a payout annuity can help to answer those concerns by converting some of your savings into a guaranteed lifetime income stream. And if you’re saving on your own, payout annuities is one of the best ways to get that guarantee.<\/p>\n You can receive a guaranteed stream of income for life, or for a fixed term up to age 90, by converting all or part of your RRSP into an annuity. An annuity offers stable income, but you lose flexibility by locking in at a specific interest rate. There are several different types of annuities that may be appropriate depending on your situation, including insured annuities. You may even wish to convert a portion of your RRSP into an annuity, while putting the rest into a RRIF.<\/p>\n<\/div><\/section>\n\n
Features and Advantages of Annuities<\/h3>
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