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An annuity is an investment that pays a guaranteed income for a specified period of time (e.g. 5 years, 10 years or life). The amount of the payment is usually based on the investor’s age and gender as well as the current interest rate environment. Annuity income can also be increased if the investor has serious health concerns.

The three primary annuities are Life, Term and Variable. Please contact us for more information.

Life Annuities

Life annuities provide you with a guaranteed lifetime income. In addition, they allow for options to transfer payments to your spouse or partner as well as to provide money to your beneficiary or estate when you die. Its drawback is that you may pass away before receiving your full investment back.

Term Annuities

Term annuities provide you with guaranteed income for a set period of time. The great benefit of this type of annuity is that your beneficiary or estate will receive any remaining benefit if you die before the end of the term. Its drawback is that you may live longer than the term of the annuity.

Variable Annuities

Variable annuities consist of money invested in products, such as equities, that provide a varying return. In this scenario, you receive a fixed income as well as a variable income with the latter being based on the performance of the investment. Its drawback is that it is hard to predict how well the investment will perform.

We can help you choose the type which would enhance your overall investment plan.