Are you afraid of the markets? And on top of that you are retired?
We are currently experiencing a rise in interest rates. If you're looking for stability, let's talk about the possibilities of buying an annuity! Why do you want to buy an annuity?
You should consider this product if:
You are a Canadian resident looking for a guaranteed source of income for life, usually for retirement.
You want to supplement the guaranteed lifetime income you receive from other sources such as the Quebec Pension Plan (QPP), Canada Pension Plan (CPP), Old Age Security (OAS), or a defined benefit pension plan.
You want a guaranteed basic income to ensure you can cover your living expenses throughout your retirement.
An annuity allows you to receive a regular amount of money for a set period of time or throughout your retirement.
To receive it, you must purchase it from a life insurance company. There are several factors that can influence the purchase price of an annuity:
The amount of payments you want to receive.
The interest rates.
The length of the payments you want to receive.
What is the advantage of an annuity?
You no longer have to manage a portfolio. In addition, no matter what happens to the stock market, you will receive the payments provided for in the contract on a regular basis.
Here are the main types of annuities:
Life annuity.
Term Certain Annuity.
For more details, please contact me.