Ottawa Life Insurance Brokers & Agents
The basis of an annuity contract is the deposit of registered/non-registered monies with a life insurance company which in turn provides the investor with a guaranteed income for a predetermined period or for life.
There are various types of annuities available. These include:
Life Annuity SUB-TOPIC OF TOPIC 8
A life annuity provides you with a guaranteed lifetime income.
- The insurance company is responsible for managing how the money is invested
- The contract is non-reversible
- The contract does not allow for access to the invested capital
- Provides the highest guaranteed income payments for life
- Guaranteed income payments for as long as you live
- no risk of outliving your income
- additional joint and survivor option to transfer payments to your spouse/partner