Life Annuities

Alternatives to registered plans.

Life annuities provide you with a regular income paid at selected intervals for the rest of your life, regardless of the age you live to. The income payments can be level for the remainder of your life or they can be indexed at a pre-selected rate. Several factors, including current interest rates, are considered when an annuity income is calculated, and as a result, once you buy a life annuity you are locking this interest rate in for the entire payment period.

There are several different varieties of life annuities to choose from, including single life annuities, joint life annuities, guaranteed annuities, and impaired annuities.

A life annuity could be beneficial for you if you want a fixed income guaranteed for life, you don’t want to make investment decisions, you want to lock in your investments at current rates and you’re not concerned about leaving an estate to your descendants.

The use of life annuities can bring several advantages to your retirement income planning. The Burak Hannon Brojde Group can show you how these can fit into your retirement plan. In addition, rates from different insurance companies can vary significantly and we can assist you with your selection.