Lifetime income benefit

Save this PDF as:
 WORD  PNG  TXT  JPG

Size: px
Start display at page:

Download "Lifetime income benefit"

Transcription

1 Canada life segregated Funds Lifetime income benefit Guarantee your income for life Grow income don t allow it to decrease

2 Financial strength and stability Canada Life, founded in 1847, was Canada s first domestic life insurance company. Today, Canada Life provides insurance and wealth management products and services in Canada, the United Kingdom, Isle of Man, Ireland and Germany. In Canada, these products include s, savings and retirement income, annuities, life, disability and critical illness insurance, distributed through independent advisors associated with managing general agencies, as well as national accounts, including Investors Group. Group payout products issued by Canada Life are distributed by Great-West Life. Canada Life, together with Great-West Life and London Life, manages over $18.6 billion * in segregated fund policy assets for individual clients across Canada. Canada Life, Great-West Life and London Life together serve the financial security needs of more than 12 million people across Canada and have $204 billion * in consolidated assets under administration. The companies are subsidiaries of Great-West Lifeco Inc., and members of the Power Financial Corporation group of companies. * As of Dec. 31, 2011 For information about Canada Life and our products and services, visit

3 Notes about segregated fund policies The Canada Life segregated funds contract and information folder contain complete details about all the features of the lifetime income benefit. Read them carefully to ensure you understand the lifetime income benefit and its features. Features and guarantees vary by policy and age of annuitant and some limitations apply. Maturity and death benefit guarantees are reduced proportionately by withdrawals. Creditor protection depends on court decisions and applicable legislation, which can be subject to change and can vary from each province; it can never be guaranteed. Talk to your lawyer to find out more about the potential for creditor protection for your specific situation. Maturity guarantee and death benefit reset options must be chosen at time of initial premium to the segregated funds and cannot be removed once added. Additional fees apply. Notes about the lifetime income benefit option Deferral bonuses are not a guaranteed rate of return. They have no cash value and do not increase any applicable maturity or death guarantee benefits. Deferral bonuses increase your eligible lifetime income amount. Excess withdrawals will decrease the lifetime income amount and you will no longer be eligible for any future bonuses. An excess withdrawal is a withdrawal that exceeds the annual guaranteed income amount. Income resets do not increase the basic amount used in determining maturity or death benefit guarantees. Income resets are calculated every three years on the lifetime income benefit anniversary and come into effect on Jan. 1 of the next calendar year. For information about maturity or death benefit guarantees, turn to page 15. Once income begins, a deferral bonus can only apply when no withdrawals are made during two successive years and the market value is greater than or equal to the lifetime income withdrawal base on the most recent lifetime income benefit anniversary. Canada life segregated funds Table of contents Lifetime income benefit...4 Take control of your income...6 Guaranteed income for life...7 Annual deferral bonus...8 Income resets...9 Weak market conditions don t affect your retirement income...10 Payments from registered policies...14 Canada Life segregated funds plus lifetime income benefit...15 Select the right funds for you...16 Investment...19 Glossary of terms...19

4 Lifetime income benefit Guarantee your income for life For years your focus has been to save for retirement. Now you need innovative solutions to help you transition your hard-earned savings into income that will last your lifetime. You also need to protect your savings against three retirement risks: Longevity risk: You might outlive your money. Market return risk: You could experience poor market returns in your early retirement years, increasing the chances you ll use all your savings sooner than you planned. Inflation risk: Your retirement savings might not earn enough to keep up with inflation. The Canada Life segregated funds lifetime income benefit helps you manage these risks in retirement and protect your savings. The lifetime income benefit can help provide: Predictable, guaranteed income for life beginning as early as age 50 The potential for increasing income A safe transition from savings to income Guaranteed income for life for you and your spouse Your lifetime income amount will not decrease regardless of how your segregated funds perform. Longevity risk Retirement planning considers the risk that you or your spouse might outlive your assets. The lifetime income benefit can help provide predictable, guaranteed income, no matter how long you or your spouse lives. Joint-life income can help protect couples from the risk of reduced income when a spouse dies. Life expectancy in years at given age * Age Male Female * Statistics Canada, Life expectancy at various ages, by population group and sex, 2006

5 Canada life segregated funds Market return risk As you plan for retirement, you may question what happens if you experience poor market returns early in retirement. Industry experts consider the five years before and the five years after retirement an especially critical phase for your retirement savings. This 10-year period is often referred to as the retirement risk zone because short-term losses in the years leading up to retirement have a limited time to recover before you begin to rely on them for income. The shorter the recovery period before and after your retirement date, the greater the negative effect these losses have on your ability to sustain income for life. Retirement risk zone Saving years Retirement risk zone Retirement income years C-A Hypothetical policy market value Age Retirement date For illustration purposes only. Policy market value is hypothetical only and not indicative of future performance. The lifetime income benefit helps get you through this retirement risk zone by guaranteeing the starting value on which your lifetime income amount will be based. You can increase your income amount by deferral bonuses earned in every year you defer making a withdrawal prior to taking an income.

6 Take control of your income The lifetime income benefit puts you in control of your retirement savings and income by guaranteeing your income for life. Your income won t decrease regardless of how the segregated funds perform, which provides you with protection against the risks of longevity, inflation, and market returns and volatility. $500,000 $450,000 $400,000 $350,000 $300,000 $250,000 $200,000 $150,000 $100,000 $50,000 Guaranteed income for life $21,000 Hypothetical policy market value You contribute a $500,000 premium to your policy at age 65. Even if the policy market value drops to $0, you are guaranteed to continue receiving payments for the rest of your life. Guaranteed income continues for life $ C Age For illustration purposes only. Policy market value is hypothetical only and not indicative of future performance. The lifetime income benefit option offers a lifetime income amount, which will never decrease provided excess withdrawals are not taken. You contribute a $500,000 premium to your policy at age 65. Even in a down market, your lifetime income amount is guaranteed at $21,000 (4.20% x $500,000), and it can grow with deferral bonuses. You may be able to increase your income through deferral bonuses and income resets.

7 Is it right for you? Canada life segregated funds The lifetime income benefit is just one component of a well-diversified retirement income portfolio. It s most appropriate for people getting ready to retire and retirees looking for secure, predictable, guaranteed income. You and your spouse, if applicable, must be at least age 50 and under age 91 to add the lifetime income benefit to a segregated fund policy. The lifetime income benefit works best for people who do not already have guaranteed retirement income. Guaranteed income comes from government benefits, company pension plans or life annuities. You should allocate only a portion of your retirement income portfolio to the lifetime income benefit. You will want to keep some funds easily accessible for emergencies and other needs that arise. The lifetime income benefit doesn t allow you to take out extra money without penalties. Guaranteed income for life With the lifetime income benefit, you re guaranteed income for life, whether you live to 85, 105 or beyond. Your income will not decrease, regardless of how the segregated funds perform. No matter how long you live The Canada Life lifetime income benefit provides predictable, guaranteed income for life, starting as early as age 50. The lifetime income amount is based on age; this makes you eligible for higher income payments as you get older. When you add the lifetime income benefit, your eligible lifetime income amount is the initial market value of your policy multiplied by the income percentage corresponding to your current age (or your spouse, if applicable). The percentage used to calculate the lifetime income amount increases with age. Age used to calculate Single-life income Joint-life income income % 2.50% % 2.90% % 3.30% % 3.70% % 4.10% % 4.50% You may be able to increase your income through deferral bonuses and income resets.

8 Annual deferral bonus Increase your lifetime income amount with deferral bonuses With the lifetime income benefit, you are eligible to earn a three per cent deferral bonus every year until you make a withdrawal. If you don t need to take an income right away, the deferral bonus can help you grow your lifetime income amount even when markets are down. Once you begin taking an income, you are no longer eligible for deferral bonuses. If you stop taking income, you may only be eligible for deferral bonuses again when your policy value exceeds your lifetime income withdrawal base. Deferral bonuses can add up You can increase your income amount by deferral bonuses earned in every year you defer making a withdrawal before you start taking an income. Deferral bonuses increase the lifetime income withdrawal base, which help determine the lifetime income amount available to you. For example: If you contribute a premium of $200,000 to your policy and defer income for 10 years, your lifetime income withdrawal base will have a minimum value of $260,000 because of deferral bonuses. Important: Deferral bonuses are not a guaranteed rate of return. They have no cash value and do not increase any applicable maturity or death guarantee benefits. Deferral bonuses increase your eligible lifetime income amount.

9 Income resets Increase your lifetime income amount with income resets Canada life segregated funds As policy market values increase, you have the potential to secure those gains to increase your lifetime income amount. Your lifetime income amount will not decrease regardless of how the segregated funds perform. Secure growth with automatic income resets The example below shows how the lifetime income withdrawal base is increased every three years when the policy value is greater than the existing lifetime income withdrawal base. Once your lifetime income withdrawal base increases, it is guaranteed for life regardless of any future down markets, assuming no excess withdrawals are made. Key features of income resets Can occur every three years Lifetime income amount will increase when an income reset is applied income resets are available for the life of the policy income resets do not increase the basic amount used in determining maturity or death benefit guarantees How income resets work Lifetime income amount increases when income resets occur Hypothetical policy market value Hypothetical policy market value Lifetime income withdrawal base Reset C Years For illustration purposes only. Policy market value is hypothetical only and not indicative of future performance.

10 Weak market conditions don t affect your retirement income 1 Jack, age 65, is planning his retirement income. He has a certain amount of guaranteed income from his company s pension plan and decides to allocate $500,000 from his savings to a policy with the lifetime income benefit. He starts taking income immediately. Based on Jack s age and initial premium, he s guaranteed to receive an annual lifetime income amount of $21,000 (4.20% of $500,000) when singlelife income is chosen. Consider the following two scenarios. Taking income in a down market Even if the market value of his policy is reduced because of a market downturn, the lifetime income benefit still guarantees Jack an income for life. After 16 years, Jack s policy market value reduces to $0. However, thanks to the lifetime income benefit, he continues to receive $21,000 a year. $500,000 Taking income in a down market INCOME $65,000 $400,000 $52,000 $300,000 Hypothetical policy market value $300,000 $39,000 $240,000 $200,000 Annual income $21,000 minimum guaranteed income for life Lifetime income amount (years) For illustration purposes only. Policy market value is hypothetical only and not indicative of future performance C 1 These examples presume simplifying assumptions regarding the timing of policy anniversary, date of birth, etc. Other assumptions would likely produce different results. Consult the information folder for details specific to your individual situation. Benefit: Your income is guaranteed for life.

11 C Canada life segregated funds Taking income in an up market When markets and segregated funds in Jack s policy perform well, Jack can take advantage of income resets and higher income percentages. As previously mentioned, Jack s annual lifetime income amount starts at $21,000. However, every three years, Jack s policy can reset his income to a higher amount, if the market value on that date multiplied by his income percentage results in a higher lifetime income amount. Even when taking income, Jack benefits from income resets every three years. In this example, by year 18, Jack s policy value grows to more than $842,000. His income percentage is five per cent, which results in an income of $42,100. If the segregated funds in his policy continue to perform well, his income could continue to increase. $1,000,000 Taking income in an up market INCOME $60,000 $800,000 $600,000 $400,000 Hypothetical policy market value $21,000 $22,105 $23,305 $25,765 $29,855 $36,070 $42,100 $48,000 $42,100 minimum guaranteed income for life $24,000 $12, Lifetime income amount (years) For illustration purposes only. Policy market value is hypothetical only and not indicative of future performance. Benefit: Your lifetime income amount can increase with income resets.

12 Weak market conditions don t affect your retirement income 2 Nancy, age 50, wants to retire within 15 years. As a small business owner without a pension plan, she allocates $200,000 of her savings to the lifetime income benefit. This allows her to take advantage of the guarantees, income resets and deferral bonuses that may increase her lifetime income amount. Nancy s initial premium establishes a lifetime income withdrawal base of $200,000. For every year she defers taking income, she benefits from a three per cent deferral bonus. However, if Nancy decides to take an income, she could still be eligible for a deferral bonus again when lifetime income withdrawal base resets to a higher amount. The bonus is a notional amount that, when added to her lifetime income withdrawal base, increases the lifetime income amount she is guaranteed to receive. Deferral bonuses have no cash value. Consider the following two scenarios. Deferring income in a down market As Nancy approaches her retirement date, she can decide to receive a lifetime income amount at any time. For example, at age 65, her lifetime income amount is $12,180 per year (4.20 % of $290,000) when single life Deferring income in a down market $400,000 income is chosen. This annual amount is guaranteed for life and could increase. In the down market, Nancy is concerned about poor segregated fund returns in her policy. She decides to remain employed and let the annual deferral bonus continue, so she can increase her income when she retires. $350,000 $300,000 $250,000 Initial premium $200,000 $150,000 $14,720 minimum guaranteed income for life 4.60% x $320,000 $100,000 $50,000 $ Lifetime income withdrawal base (years) Deferral bonus Hypothetical policy market value Initial premium C For illustration purposes only and using single-life income: Policy market value is hypothetical only and not indicative of future performance. Fortunately for Nancy, even in down markets, her lifetime income amount is guaranteed, and it can grow through deferral bonuses. Through deferral bonuses of $6,000 accumulated over 20 years, Nancy s lifetime income withdrawal base grows to $320,000. The lifetime income amount available to Nancy when she retires at age 70 is $14,720 (4.60% of $320,000) when single-life income is chosen. She s guaranteed to receive this amount every year for the rest of her life. Nancy could have deferred even longer because there is no maximum deferral period. Benefit: Your lifetime income amount can grow through deferral bonuses.

13 Canada life segregated funds Deferring income in an up market Deferring income in an up market If Nancy retires at 65 after several years of policy growth, she can benefit from both deferral bonuses and income resets. Income resets can occur as often as every three years. They can lock-in market growth and increase the lifetime income amount. They can also increase the amount of deferral bonus Nancy receives. In this example, Nancy s lifetime income benefit withdrawal base grows to more than $651,000 because of deferral bonuses and policy market value resets. Nancy can start receiving more than $27,000 per year at age 65. However, if she waits five more years and enjoys continued positive segregated fund performance, her starting income can be much higher. If Nancy waits to retire at age 70, her withdrawal base grows to over $985,000. Nancy is now guaranteed to receive $45,310 every year for the rest of her life. $1,200,000 $1,000,000 $800,000 $600,000 $400,000 $45,310 minimum guaranteed income for life 4.60% x $985,000 $200,000 $ C Lifetime income withdrawal base (years) Income reset Deferral bonus Hypothetical policy market value For illustration purposes only. Policy market value is hypothetical only and not indicative of future performance. 2 These examples presume simplifying assumptions regarding the timing of policy anniversary, date of birth, etc. Other assumptions would likely produce different results. Consult the information folder for details specific to your individual situation. Benefit: Income resets can increase your lifetime income amount.

14 Payments from registered policies Legislated minimum payments When you convert your registered retirement savings plan (RRSP) into a registered retirement income fund (RRIF) you are required to take minimum annual payments. The lifetime income benefit was designed to provide income for life, regardless of RRIF payments. You can meet the legal requirements of the minimum annual payment schedule, and still be guaranteed an annual income even if the market value of your policy is reduced to zero. In each calendar year, you may withdraw the greater of the RRIF minimum or the lifetime income amount. If your legislated minimum exceeds the lifetime income amount, the legislated minimum will be paid to you. These payments are not treated as excess withdrawals. For example: If the lifetime income amount is $10,000, but the RRIF minimum is $12,000, you would receive $12,000 to meet the legislative minimum. However, it s not considered an excess withdrawal, so your guaranteed lifetime income amount remains intact. If you withdrew any amount above $12,000, it would be an excess withdrawal, which negatively affects your lifetime income amount. The lifetime income benefit is only available on the 75/75 or 75/100 guarantee policies. The policy can be a: Non-registered policy RRSP and spousal RRSP RRIF and spousal RRIF Prescribed retirement income fund (PRIF) (Single life-income only) Locked-in retirement account (LIRA) Saskatchewan only (Single life-income only)

15 Canada Life segregated funds + lifetime income benefit A powerful combination Canada life segregated funds By combining a segregated fund policy with the lifetime income benefit, you get income for life as well as an portfolio tailored to suit your needs. You can select from a variety of funds containing fixed income and equity s. You have the potential to build your s while receiving secure income payments regardless of what happens to portfolio values. You can add the lifetime income benefit to one of two Canada Life segregated funds policies at any time. 75/75 guarantee policy 75/100 guarantee policy 1. Choose your guarantee You have the flexibility to choose the maturity and death benefit guarantees to protect you. This helps you tailor your solutions to fit your needs and financial goals. 2. add the lifetime income benefit Benefits of segregated fund policies Segregated fund policies are life insurance contracts. This means segregated fund policies have benefits and standard protection features, including: Creditor protection potential because segregated funds are part of an insurance policy, your policy may be protected from creditors. No trustee fees if you choose a registered segregated fund policy, there are no trustee fees. Estate bypass upon the annuitant s death, proceeds go directly to named beneficiaries, if other than the estate, bypassing the delays and expense of the probate process. 75/75 guarantee 75/100 guarantee Guarantees 75 per cent maturity guarantee and 75 per cent death benefit guarantee You re guaranteed to receive 75 per cent of all premiums contributed reduced proportionately by any withdrawals: At the maturity guarantee date On notification of death of the last annuitant 75 per cent maturity and 100 per cent death benefit guarantee At maturity guarantee date: You re guaranteed to receive 75 per cent of all premiums contributed reduced proportionately by any withdrawals. On notification of death of the last annuitant: Up to 100 per cent of premiums contributed reduced proportionately by any withdrawals are guaranteed. Premiums contributed when youngest annuitant is age 80 or older are subject to a graded death benefit guarantee schedule. Lifetime income benefit Available Available

16 3. Select the right funds for you With Canada Life segregated fund policies, you can add the lifetime income benefit to 28 eligible segregated funds. Managed fund solutions Canada Life s managed fund solutions combine several funds to create one vehicle, or fund of funds. With several options available, you can select a portfolio that best suits your risk tolerance. As well, you can choose a solution managed by either multiple or one manager. Fund name Investment manager class Equity style Fund objective Managed fund solutions Core managed solutions Core Conservative Growth This fund s objective is to provide interest income with the potential for capital appreciation by investing primarily in units of Canadian fixed income funds while investing a smaller portion in Canadian and foreign equity funds. This fund typically allocates 30 per cent to equity s and 70 per cent to fixed Core Moderate This fund s objective is to provide a balance between current income and long-term capital growth by investing primarily in units of Canadian fixed income funds while investing a smaller portion in Canadian and foreign equity funds. This fund typically allocates 40 per cent to equity s and 60 per cent to fixed Core Moderate Growth Plus This fund s objective is to provide a balance between long-term capital growth and current income by investing in units of Canadian fixed income and Canadian and foreign equity funds. This fund typically allocates 50 per cent to equity s and 50 per cent to fixed Core Balanced This fund s objective is to provide a balance between long-term capital growth and current income by investing in units of Canadian fixed income and Canadian and foreign equity funds. This fund typically allocates 60 per cent to equity s and 40 per cent to fixed Core Balanced Growth Plus This fund s objective is to provide long-term capital growth by investing primarily in units of Canadian and foreign equity funds while investing a smaller portion in Canadian fixed income funds. This fund typically allocates 70 per cent to equity s and 30 per cent to fixed Partner managed solutions Fidelity Moderate Income Fidelity This fund s objective is to provide interest income with the potential for capital appreciation by investing in units of funds managed by Fidelity Investments Canada ULC. The fund primarily invests in fixed income funds while investing a smaller portion in units of Canadian and foreign equity funds. This fund typically allocates 35 per cent to equity s and 65 per cent to fixed Fidelity Moderate Growth Plus Fidelity This fund s objective is to provide a balance between long-term capital growth and current income by investing in units of Canadian fixed income and Canadian and foreign equity funds managed by Fidelity Investments Canada ULC. This fund typically allocates 50 per cent to equity s and 50 per cent to fixed Fidelity Balanced Fidelity This fund s objective is to provide a balance between long-term capital growth and current income by investing in units of Canadian fixed income and Canadian and foreign equity funds managed by Fidelity Investments Canada ULC. This fund typically allocates 60 per cent to equity s and 40 per cent to fixed

17 Canada life segregated funds Franklin Templeton Moderate Income Franklin Templeton This fund s objective is to provide interest income with the potential for capital appreciation by investing in units of funds managed by Franklin Templeton Investments. The fund primarily invests in fixed income funds while investing a smaller portion in units of Canadian and foreign equity funds. This fund typically allocates 35 per cent to equity s and 65 per cent to fixed Fund name Investment manager class Equity style Fund objective Partner managed solutions (cont d) Franklin Templeton Moderate Growth Franklin Templeton This fund s objective is to provide a balance between long-term capital growth and current income by investing in units of Canadian fixed income and Canadian and foreign equity funds managed by Franklin Templeton Investments. This fund typically allocates 45 per cent to equity s and 55 per cent to fixed Franklin Templeton Balanced Income Franklin Templeton This fund s objective is to provide a balance between long-term capital growth and current income by investing in units of Canadian fixed income and Canadian and foreign equity funds managed by Franklin Templeton Investments. This fund typically allocates 55 per cent to equity s and 45 per cent to fixed CI Balanced Income CI Investments This fund s objective is to provide a balance between long-term capital growth and current income by investing in units of Canadian fixed income and Canadian and foreign equity funds managed by CI Investments. This fund typically allocates 55 per cent to equity s and 45 per cent to fixed Mackenzie Moderate Income Mackenzie This fund s objective is to provide interest income with the potential for capital appreciation by investing in units of funds managed by Mackenzie Financial Corporation. The fund primarily invests in fixed income funds while investing a smaller portion in units of Canadian and foreign equity funds. This fund typically allocates 35 per cent to equity s and 65 per cent to fixed Mackenzie Moderate Growth Mackenzie This fund s objective is to provide a balance between long-term capital growth and current income by investing in units of Canadian fixed income and Canadian and foreign equity funds managed by Mackenzie Financial Corporation. This fund typically allocates 45 per cent to equity s and 55 per cent to fixed Mackenzie Balanced Income Mackenzie This fund s objective is to provide a balance between long-term capital growth and current income by investing in units of Canadian fixed income and Canadian and foreign equity funds managed by Mackenzie Financial Corporation. This fund typically allocates 55 per cent to equity s and 45 per cent to fixed Mackenzie Balanced Mackenzie This fund s objective is to provide a balance between long-term capital growth and current income by investing in units of Canadian fixed income and Canadian and foreign equity funds managed by Mackenzie Financial Corporation. This fund typically allocates 60 per cent to equity s and 40 per cent to fixed Also available: Fund name Investment manager class Equity style Fund objective Stand-alone funds Money Market Laketon Cash and cash equivalents Not applicable The fund s objective is to provide short-term capital preservation and interest income through s in commercial papers such as federal and provincial treasury bills and bankers acceptances. Income Opportunity London Capital Fixed income Not applicable The fund s objective is to provide a balance between long-term capital growth and current income by investing primarily in Canadian fixed income securities and equities. The fund will focus on securities that are expected to provide income like government and corporate bonds and dividend-yielding Canadian stocks. Balanced Bissett Balanced Bottom-up, growth at a reasonable price (GARP) This segregated fund invests in the Bissett Canadian Balanced Fund. The underlying fund seeks balance of current income and long-term capital appreciation by investing primarily in a portfolio of Bissett Funds to achieve a balance of fixed income and equity s.

18 Fund name Investment manager class Managed Laketon Balanced Balanced Greystone Balanced Maxxum Canadian Balanced Fund Mackenzie Balanced Equity style Top-down, blend Bottom-up, growth Bottom-up, growth at a reasonable price (GARP) Fund objective This fund s objective is to provide a balance between long-term capital growth and current income by investing primarily in Canadian fixed-income securities and Canadian and foreign equities. The fund targets a long-term asset mix of 30 per cent Canadian equities, 25 per cent global equities and 45 per cent fixed income securities. The objective of this fund is the preservation of the value of original s, capital appreciation and income. Greystone uses a growth-oriented style to manage the equity portion of this fund. This fund typically allocates 60 per cent to equity s and 40 per cent to fixed This segregated fund invests primarily in Canadian fixed income securities and stocks currently through the Mackenzie Maxxum Canadian Balanced Fund. funds Conservative Allocation This fund s objective is to provide interest income with the potential for capital appreciation by investing in units of Canadian fixed income segregated funds with a smaller portion in its equity segregated funds. This fund usually divides its s as follows: n 20 to 40% equities n 60 to 80% fixed income Moderate Allocation This fund s objective is to provide a balance between current income and longterm capital growth by investing primarily in units of Canadian fixed income segregated funds and includes a significant in its equity segregated funds. This fund usually divides its s as follows: n 30 to 60% equities n 40 to 70% fixed income Balanced Allocation This fund s objective is to provide a balance between long-term capital growth and current income by investing primarily in units of equity segregated funds and includes a significant in its fixed income segregated funds. This fund usually divides its s as follows: n 50 to 75% equities n 25 to 50% fixed income Income funds Income Focus Income This fund s objective is to provide interest income with the potential for capital appreciation by investing in units of Canadian fixed income segregated funds with a smaller portion in units of equity segregated funds. This fund usually divides its s as follows: n 10 to 30% equities n 70 to 90% fixed income Income Growth Income This fund s objective is to provide a balance between current income and longterm capital growth by investing primarily in units of fixed income segregated funds and includes a significant in units of equity segregated funds. This fund usually divides its s as follows: n 25 to 45% equities n 55 to 75% fixed income Income Growth Plus Income This fund s objective is to provide a balance between current income and long-term capital growth by investing primarily in units of equity and fixed income segregated funds. This fund usually divides its s as follows: n 40 to 60% equities n 40 to 60% fixed income Access your savings at any time Segregated fund policies offer access to assets whenever needed. Certain fees or RRIF minimums, if applicable, may apply at the time of withdrawal. Withdrawals in excess of the annual guaranteed income amount will affect your lifetime income amount and make you ineligible for deferral bonuses.

19 Investment with the lifetime income benefit A successful fund selection along with the income reset feature and deferred bonuses can increase your guaranteed income. Canada Life offers a multimanager, multi-style lineup of segregated funds that gives you the flexibility to tailor a portfolio to meet your individual needs. Canada life segregated funds By investing with Canada Life, you have some of the leading in the world managing your money. Glossary of terms This section provides a brief definition of the terms associated with the Canada Life lifetime income benefit. For a detailed explanation and other details, please talk to your advisor* or refer to the Canada Life information folder. Annual guaranteed income amount is the maximum income you can take in a year without incurring an excess withdrawal. The annual guaranteed income amount is the greater of the lifetime income amount or RRIF minimum, if applicable. Base for income bonus is a notional balance used to determine the deferral bonus amount applied to the lifetime income withdrawal base. This is not a cash value. Deferral bonus A percentage of the base for income bonus is added to lifetime income withdrawal base when no withdrawals have been taken in any year. This is not a cash value. Excess withdrawals are cumulative annual withdrawals in excess of the lifetime income amount, or RRIF minimum (if applicable). Excess withdrawals will decrease the lifetime income amount and you will no longer be eligible for any future bonuses. Income resets an increase in the market value of the policy resets the lifetime income withdrawal base used to determine the lifetime income amount. Income resets may occur every three years and your lifetime income amount will only be re-calculated upwards. Lifetime income amount represents the annual guaranteed lifetime income and is the maximum amount that can be withdrawn each calendar year. Lifetime income withdrawal base is a notional balance used to calculate the lifetime income amount and lifetime income benefit monthly fee. This is not a cash value. Single-life income refers to guaranteed lifetime income, for you. Joint-life income refers to guaranteed lifetime income for you and your spouse, until the last spouse dies. *In Quebec, advisor refers to a financial security advisor for individual insurance and segregated fund policies; and to an advisor in group insurance/annuity plans for group products.

20 For more information about Canada Life and its products visit or talk to your advisor. A description of the key features of the segregated fund policy is contained in the information folder. Any amount that is allocated to a segregated fund is invested at the risk of the policyowner and may increase or decrease in value. The display of trademarks on this brochure does not imply that a licence of any kind has been granted. All service and product names are trademarks of their respective owners. Helping people achieve more THE Canada CANADA Life and design, LIFE and Helping ASSURANCE people achieve COMPANY more are trademarks of The Canada Life Assurance Company /12

Lifetime income benefit

Lifetime income benefit Canada life segregated Funds Lifetime income benefit Guarantee your income for life Grow income don t allow it to decrease Financial strength and stability Founded in 1847, Canada Life TM was Canada s

More information

Lifetime income benefit

Lifetime income benefit London Life segregated policies Lifetime income benefit Guarantee your income for life GUARANTEES PROTECTION STRENGTH Financial strength and stability London Life, together with Great-West Life and Canada

More information

Lifetime income benefit

Lifetime income benefit Lifetime income benefit Guarantee your income for life Great-West Life segregated fund policies Segregated fund policy information Investments tailored to protect you Table of contents Financial strength

More information

Guarantee your income for life Lifetime income benefit option

Guarantee your income for life Lifetime income benefit option Guarantee your income for life Lifetime income benefit option Great-West Life segregated fund policies Guarantee your income for life Great-West Life lifetime income benefit option Guarantee your income

More information

Information folder. Including preferred series 1. June 2015. This document is not an insurance contract.

Information folder. Including preferred series 1. June 2015. This document is not an insurance contract. CANADA LIFE SEGREGATED FUNDS Information folder Including preferred series 1 June 2015 The Canada Life Assurance Company is the sole issuer of the individual variable annuity policy described in this information

More information

Canada life segregated Funds. Segregated funds. information. Investments tailored to protect you. Includes general policy information

Canada life segregated Funds. Segregated funds. information. Investments tailored to protect you. Includes general policy information Canada life segregated s Segregated funds information Investments tailored to protect you Includes general policy information Table of contents Segregated funds policies and you... 3 Benefits of Canada

More information

INFORMATION FOLDER October 2015

INFORMATION FOLDER October 2015 GREAT-WEST LIFE SEGREGATED FUND POLICIES PREFERRED SERIES 2 INFORMATION FOLDER October 2015 The Great-West Life Assurance Company is the sole issuer of the individual variable annuity policy described

More information

Information folder October 2015 CANADA LIFE GENERATIONS TM. The Canada Life Assurance Company

Information folder October 2015 CANADA LIFE GENERATIONS TM. The Canada Life Assurance Company Information folder October 2015 The Canada Life Assurance Company is the sole issuer of the individual variable annuity policy described in this information folder. This document is not an insurance contract.

More information

Segregated fund policy information. Investments tailored to protect you

Segregated fund policy information. Investments tailored to protect you Segregated fund policy information Investments tailored to protect you 2 Segregated fund policy information Investments tailored to protect you Table of contents Segregated fund policies and you...4 Benefits

More information

JUNE 2016. Great-West Life investment plans Information folder. Program MANAGED-MONEY. This document is not an insurance contract.

JUNE 2016. Great-West Life investment plans Information folder. Program MANAGED-MONEY. This document is not an insurance contract. JUNE 2016 Great-West Life investment plans Information folder Program MANAGED-MONEY This document is not an insurance contract. This information folder is not an insurance contract. The information in

More information

Investment funds information folder

Investment funds information folder Investment funds information folder Great-West Life investment plans Investment funds information folder October 2015 This document is not an insurance contract. This information folder is not an insurance

More information

Retirement. Income. your way

Retirement. Income. your way Retirement. Income. your way YOUR GUIDE TO SUNFLEX RETIREMENT INCOME Life s brighter under the sun Table of contents Introduction... 3 The five retirement risks... 4 Money for Life... 5 Product Overview

More information

ADVISOR USE ONLY PAYOUT ANNUITY. Overcoming objections. Life s brighter under the sun

ADVISOR USE ONLY PAYOUT ANNUITY. Overcoming objections. Life s brighter under the sun ADVISOR USE ONLY PAYOUT ANNUITY Overcoming objections Life s brighter under the sun Overview Payout annuities are a powerful retirement tool and have been an important product for many years. They re sometimes

More information

Canada Life Approved Retirement Fund with lifelong income benefit

Canada Life Approved Retirement Fund with lifelong income benefit Canada Life Approved Retirement Fund with lifelong income benefit Guarantee your income for life GUARANTEES PROTECTION STRENGTH Why choose Canada Life? The strongest life assurance group in Ireland We

More information

Life s brighter under the sun (and so is your retirement)

Life s brighter under the sun (and so is your retirement) Life s brighter under the sun (and so is your retirement) Key topics Your retirement options Understanding your plan Choosing your investments Managing your account Take action 2 YOUR RETIREMENT OPTIONS

More information

Sun Life Assurance Company of Canada

Sun Life Assurance Company of Canada Sun Life Assurance Company of Canada Sun Guaranteed Investment Fund Solutions Income Series supplement Information folder and individual variable annuity contract issued by Sun Life Assurance Company of

More information

Investor Guide. RRIF Investing. Managing your money in retirement

Investor Guide. RRIF Investing. Managing your money in retirement Investor Guide RRIF Investing Managing your money in retirement 1 What s inside It s almost time to roll over your RRSP...3 RRIFs...4 Frequently asked questions...5 Manage your RRIF...8 Your advisor...10

More information

Your guide to Canada Life s participating life insurance. Estate Achiever Wealth Achiever

Your guide to Canada Life s participating life insurance. Estate Achiever Wealth Achiever Your guide to Canada Life s participating life insurance Estate Achiever Wealth Achiever This guide provides an overview of key features of participating life insurance products offered by Canada Life.

More information

A GUIDE TO INVESTING IN ANNUITIES

A GUIDE TO INVESTING IN ANNUITIES A GUIDE TO INVESTING IN ANNUITIES What Benefits Do Annuities Offer in Planning for Retirement? Oppenheimer Life Agency, Ltd. Oppenheimer Life Agency, Ltd., a wholly owned subsidiary of Oppenheimer & Co.

More information

Income annuities. Retirement income guaranteed. Are you looking for stable and guaranteed income you can count on throughout your retirement?

Income annuities. Retirement income guaranteed. Are you looking for stable and guaranteed income you can count on throughout your retirement? Income annuities Retirement income guaranteed Are you looking for stable and guaranteed income you can count on throughout your retirement? A lifetime income annuity can become the cornerstone of your

More information

retirement income solutions *Advisor Design guide for Life s brighter under the sun What s inside Retirement income solutions advisor guide USE ONLY

retirement income solutions *Advisor Design guide for Life s brighter under the sun What s inside Retirement income solutions advisor guide USE ONLY Retirement income solutions advisor guide *Advisor USE ONLY Design guide for retirement income solutions What s inside Discussing retirement needs with clients Retirement income product comparison Creating

More information

EMPIRE CLASS SEGREGATED FUNDS INFORMATION FOLDER AND POLICY PROVISIONS THE EMPIRE LIFE INSURANCE COMPANY

EMPIRE CLASS SEGREGATED FUNDS INFORMATION FOLDER AND POLICY PROVISIONS THE EMPIRE LIFE INSURANCE COMPANY THE EMPIRE LIFE INSURANCE COMPANY EMPIRE CLASS SEGREGATED FUNDS INFORMATION FOLDER AND POLICY PROVISIONS This document contains the information folder and the contract provisions for the Empire Class Segregated

More information

monitor money > Increase confidence to invest IN THIS ISSUE > Reduce your risks with the right investments > Money Monitor notes

monitor money > Increase confidence to invest IN THIS ISSUE > Reduce your risks with the right investments > Money Monitor notes Newsletter for Canada Life s segregated fund investors Summer 2010 monitor money Increase confidence to invest If you re hesitant to get back into the market, you re not alone. Some investors still feel

More information

Reuter Benefits Group Plan Member Newsletter September 2009

Reuter Benefits Group Plan Member Newsletter September 2009 Reuter Benefits Group Plan Member Newsletter September 2009 Accessing Your Retirement Savings As you approach retirement, you will need to turn your Pension and RRSP, as well as any nonregistered savings,

More information

UNIVERSAL LIFE INSURANCE. Flexible permanent protection

UNIVERSAL LIFE INSURANCE. Flexible permanent protection UNIVERSAL LIFE INSURANCE Flexible permanent protection A solution to your financial security needs and goals Universal life insurance from London Life At London Life, we create products to help you meet

More information

EMPIRE LIFE GUARANTEED INVESTMENT FUNDS 75/75 AND GUARANTEED INVESTMENT FUNDS 75/100 INFORMATION FOLDER AND CONTRACT PROVISIONS

EMPIRE LIFE GUARANTEED INVESTMENT FUNDS 75/75 AND GUARANTEED INVESTMENT FUNDS 75/100 INFORMATION FOLDER AND CONTRACT PROVISIONS THE EMPIRE LIFE INSURANCE COMPANY EMPIRE LIFE GUARANTEED INVESTMENT FUNDS 75/75 AND GUARANTEED INVESTMENT FUNDS 75/100 INFORMATION FOLDER AND CONTRACT PROVISIONS This document contains the information

More information

Choose the right investment. Segregated fund policies versus mutual funds

Choose the right investment. Segregated fund policies versus mutual funds Choose the right investment Segregated fund policies versus mutual funds Choose the best option for your clients investment needs Segregated fund policies and mutual funds provide clients: Professional

More information

For advisor use only Advisor Guide

For advisor use only Advisor Guide For advisor use only Advisor Guide RBC Payout Annuities 2 RBC Payout Annuities: Advisor guide What you and your clients need to know about payout annuities In an uncertain financial world where guarantees

More information

Information Folder for the Investors Group Guaranteed Investment Funds

Information Folder for the Investors Group Guaranteed Investment Funds Information Folder for the Investors Group Guaranteed Investment Funds Individual Variable Annuity Policy June 2015 Issued by The guaranteed investment funds described in this Information Folder invest

More information

Segregated funds or mutual funds

Segregated funds or mutual funds Segregated funds or mutual funds Do you know the differences? Although there are many similarities between these two investment products, there are also some important ways in which they differ. One important

More information

Understanding Annuities

Understanding Annuities Annuities, 06 5/4/05 12:43 PM Page 1 Important Information about Variable Annuities Variable annuities are offered by prospectus, which you can obtain from your financial professional or the insurance

More information

Solut!ons for financial planning

Solut!ons for financial planning Understanding your options this RRSP season 16 Solut!ons for financial planning Consider mutual funds and segregated fund contracts You ve likely heard it before: you should regularly contribute to a Registered

More information

Annuities. Introduction 2. What is an Annuity?... 2. How do they work?... 3. Types of Annuities... 4. Fixed vs. Variable annuities...

Annuities. Introduction 2. What is an Annuity?... 2. How do they work?... 3. Types of Annuities... 4. Fixed vs. Variable annuities... An Insider s Guide to Annuities Whatever your picture of retirement, the best way to get there and enjoy it once you ve arrived is with a focused, thoughtful plan. Introduction 2 What is an Annuity?...

More information

Millennium universal life insurance

Millennium universal life insurance Millennium universal life insurance Permanent protection that can change with you Millennium universal life insurance Over the years, you ve worked hard to build the lifestyle you enjoy today. You ve made

More information

Financial security protection tailored for your lifestyle

Financial security protection tailored for your lifestyle G R E A T - W E S T L I F E U n i v e r s a l l i f e i n s u r a n c e Financial security protection tailored for your lifestyle F A L L 2 0 0 6 G r e a t - W e s t u n i v e r s a l l i f e i n s u

More information

Introducing. Tax-Free Savings Accounts

Introducing. Tax-Free Savings Accounts Introducing Tax-Free Savings Accounts Tax-Free Savings Accounts A new way to save Tax-free savings accounts were introduced by the federal government in the 2008 budget as an incentive for Canadians to

More information

Sun Life Assurance Company of Canada

Sun Life Assurance Company of Canada Sun Life Assurance Company of Canada Sun Guaranteed Investment Fund Solutions Information folder and individual variable annuity contract issued by Sun Life Assurance Company of Canada May 2015 Life s

More information

Guaranteed investment funds. Secure your retirement plans

Guaranteed investment funds. Secure your retirement plans Guaranteed investment funds Secure your retirement plans to secure your retirement plans 2 Helios at a glance Take advantage of market upturns while you protect yourself from market downturns Your plans

More information

Plan at a glance: University of Saskatchewan Group Retirement Fund Prescribed Retirement Income Fund PRIF Registered Retirement Income Fund RRIF

Plan at a glance: University of Saskatchewan Group Retirement Fund Prescribed Retirement Income Fund PRIF Registered Retirement Income Fund RRIF Plan at a glance: Group Retirement Prescribed Retirement Income PRIF Registered Retirement Income RRIF Your plan at a glance We know how hard you have saved for your future. Now it s time for you to make

More information

Investor Profile Questionnaire. Client s Name: Advisor s Name: Date: Financial Goal: 4729-00A-JUNE15

Investor Profile Questionnaire. Client s Name: Advisor s Name: Date: Financial Goal: 4729-00A-JUNE15 Investor Profile Questionnaire Client s Name: Advisor s Name: Date: Financial Goal: 4729-00A-JUNE15 Questionnaire 1. When will you need access to this investment portfolio, whether by way of regular withdrawals

More information

Protecting Retirement Income and Assets

Protecting Retirement Income and Assets ONcore Variable Annuities Protecting Retirement Income and Assets Protect Guarantee retirement income without sacrificing your Plan Accumulate legacy to heirs. Access NOT A DEPOSIT NOT FDIC INSURED NOT

More information

Income Preferred Bonus Fixed Indexed Annuity

Income Preferred Bonus Fixed Indexed Annuity Income Preferred Bonus Fixed Indexed Annuity 55542 (03/14) What is a fixed indexed annuity? It is a contract between you and an insurance company. In return for your money, or premium, the insurance company

More information

Creating lifetime income with Immediate Fixed Income Annuities

Creating lifetime income with Immediate Fixed Income Annuities Creating lifetime income with Immediate Fixed Income Annuities Fixed annuities available at Fidelity are issued by third-party insurance companies, which are not affiliated with any Fidelity Investments

More information

Sun Life Assurance Company of Canada

Sun Life Assurance Company of Canada Sun Life Assurance Company of Canada Sun Lifetime Advantage Guaranteed Investment Fund Information folder and individual variable annuity contract issued by Sun Life Assurance Company of Canada May 2016

More information

Pension Plan Benefits on Retirement

Pension Plan Benefits on Retirement Pension Plan Benefits on Retirement MARCH 2014 What is inside How is Your Pension Benefit Determined? Assumptions used in Preparing a Pension Estimate... 2 Formula Pension...............................................................................

More information

Payout Annuity. product guide

Payout Annuity. product guide Table of contents What is a Single Premium Annuity?............................................................................. 2 Who will benefit from a Payout Annuity?.......................................................................

More information

Creating future lifetime income with Deferred Income Annuities

Creating future lifetime income with Deferred Income Annuities Creating future lifetime income with Deferred Income Annuities Fixed annuities available at Fidelity are issued by third-party insurance companies, which are not affiliated with any Fidelity Investments

More information

London Life participating life insurance

London Life participating life insurance Your guide to London Life participating life insurance Value, strength and choice What you ll learn from this guide This guide, combined with professional advice from your financial security advisor, helps

More information

THE SECURITY BENEFIT FOUNDATIONS ANNUITY

THE SECURITY BENEFIT FOUNDATIONS ANNUITY THE SECURITY BENEFIT FOUNDATIONS ANNUITY The Security Benefit Foundations Annuity Retirement. It s a big step and one you ve spent your whole career saving for and building on. As you enter retirement,

More information

Your group tax-free savings account

Your group tax-free savings account Your group tax-free savings account What s a TFSA? It s a flexible investment savings plan that allows you to earn tax-free investment income. A tax-free savings account (TFSA) is a new type of savings

More information

Lifetime Income Benefit Rider

Lifetime Income Benefit Rider for a secure Retirement Lifetime Income Benefit Rider (LIBR-2010)* Included automatically on most Fixed Indexed Annuities** for use with Fixed Indexed Annuities *May vary by state. Not available in all

More information

Your guide to Great-West Life Participating life insurance

Your guide to Great-West Life Participating life insurance Your guide to Great-West Life Participating life insurance This guide provides a high-level overview of key features of Great-West Life participating life insurance. After you review this guide, talk with

More information

The Road to Retirement: Beginning your journey

The Road to Retirement: Beginning your journey The Road to Retirement: Beginning your journey CSS Pension Plan Welcome! This Road to Retirement series has been designed to help you understand your pension plan, and save for retirement. [When you see

More information

October 2015. The Canada Life Assurance Company Information folder ESTATE PROTECTION

October 2015. The Canada Life Assurance Company Information folder ESTATE PROTECTION The Canada Life Assurance Company Information folder October 2015 The Canada Life Assurance Company is the sole issuer of the individual variable annuity policy described in this information folder. This

More information

Guaranteed Lifetime Income Annuities

Guaranteed Lifetime Income Annuities THE NORTHWESTERN MUTUAL LIFE INSURANCE COMPANY (NORTHWESTERN MUTUAL) Guaranteed Lifetime Income Annuities Guaranteed Income Today Select Immediate Income Annuity Select Portfolio Immediate Income Annuity

More information

Participant s Guide to Group RRSPs

Participant s Guide to Group RRSPs Participant s Guide to Group RRSPs Table of Contents What Is a Group Registered Retirement Savings Plan (RRSP)?... 2 How Does It Work? How Do I Get Started? Investment Options... 3 Variable RRSP Guaranteed

More information

4Needs your WHAT S AFTER? ELIMINATE DEBT THE FEWER DEBTS, THE BETTER! Wills and Trusts; Reviewing These Are a Must

4Needs your WHAT S AFTER? ELIMINATE DEBT THE FEWER DEBTS, THE BETTER! Wills and Trusts; Reviewing These Are a Must YOUR SOURCE FOR RETIREMENT PLANNING AND POSSIBILITIES e > N xt WHAT S AFTER? But first, some things to think about before 4Needs your retirement income should meet ELIMINATE DEBT THE FEWER DEBTS, THE BETTER!

More information

TAX, RETIREMENT & ESTATE PLANNING SERVICES. Registered Retirement Savings Plan (RRSP) THE FACTS

TAX, RETIREMENT & ESTATE PLANNING SERVICES. Registered Retirement Savings Plan (RRSP) THE FACTS TAX, RETIREMENT & ESTATE PLANNING SERVICES Registered Retirement Savings Plan (RRSP) THE FACTS Table of contents What is an RRSP?... 3 Why should I contribute to an RRSP?... 4 When can I contribute?...

More information

Corporate asset efficiency

Corporate asset efficiency Life insurance solutions Corporate asset efficiency Manage. Access. Preserve. A smart solution for professionals permanent life insurance, a unique asset that can offer tax-advantaged growth. Consider

More information

Easy Guide to Retirement Income Options

Easy Guide to Retirement Income Options Easy Guide to Retirement Income Options Contents PAGE 1: Your retirement income choices... 2 1. Convert your RSP into an annuity... 2 a. Life Annuity... 2 b. Term Certain Annuity to Age 90... 2 2. Convert

More information

All the answers you need

All the answers you need For representatives use only JANUARY 2015 All the answers you need Savings products sales guide Inside: Quick reference guide on our savings products Desjardins Insurance refers to Desjardins Financial

More information

Administration PIVOTAL SOLUTIONS/PIVOTAL SOLUTIONS DSC. Savings and Retirement. Retirement Income Fund Life Income Fund

Administration PIVOTAL SOLUTIONS/PIVOTAL SOLUTIONS DSC. Savings and Retirement. Retirement Income Fund Life Income Fund Administration PIVOTAL SOLUTIONS/PIVOTAL SOLUTIONS DSC Savings and Retirement Retirement Income Fund Life Income Fund Name of Advisor (please print) Advisor Code OR FundSERV Sales Rep. ID (only one - whichever

More information

UNDERSTANDING FIXED INDEXED ANNUITIES

UNDERSTANDING FIXED INDEXED ANNUITIES UNDERSTANDING FIXED INDEXED ANNUITIES INTRODUCING FIXED INDEXED ANNUITIES Fixed Indexed Annuities combine the features of Fixed Annuities including tax-deferred interest accumulation, a minimum guaranteed

More information

Understanding annuities

Understanding annuities ab Wealth Management Americas Understanding annuities Rethinking the role they play in retirement income planning Protecting your retirement income security from life s uncertainties. The retirement landscape

More information

Retirement Planning Workshop

Retirement Planning Workshop Retirement Planning Workshop Agenda What is Retirement Planning? Why Plan for Retirement? 5 Key Risks to secure income Goal Setting Retirement Income Considerations Asset Accumulation Considerations Tom

More information

Information Folder and Annuity Policy Client Document Package M.V.P. - RIF. insured by Sun Life Assurance Company of Canada

Information Folder and Annuity Policy Client Document Package M.V.P. - RIF. insured by Sun Life Assurance Company of Canada Information Folder and Annuity Policy Client Document Package Sun Life Assurance Company of Canada M.V.P. - RIF managed by CI Investments Inc. insured by Sun Life Assurance Company of Canada Important

More information

Protect your family s legacy with estate planning

Protect your family s legacy with estate planning RBC Life Insurance Company Protect your family s legacy with estate planning RBC Guaranteed Investment Funds What is estate planning and who should consider it? Your estate is the sum of your lifetime

More information

Lifetime Income Benefit Rider

Lifetime Income Benefit Rider for a secure Retirement Lifetime Income Benefit Rider (LIBR-2008)* Included automatically on most Indexed Annuities** Take Back Control of Your Retirement With Guaranteed Lifetime Income! *Not available

More information

Understanding annuities

Understanding annuities Wealth Management Americas Understanding annuities Rethinking the role they play in retirement income planning Helping to protect your retirement income security from life s uncertainties. The retirement

More information

The Basics of Annuities: Planning for Income Needs

The Basics of Annuities: Planning for Income Needs March 2013 The Basics of Annuities: Planning for Income Needs summary the facts of retirement Earning income once your paychecks stop that is, after your retirement requires preparing for what s to come

More information

Make a note of the disclaimer on the bottom of the slide it may come in to play as you are prospecting for clients.

Make a note of the disclaimer on the bottom of the slide it may come in to play as you are prospecting for clients. This is an introduction to the benefits of selling annuities. If you are an experienced annuity seller, then this class may not be the one for you. If you are not used to selling annuities, hang on and

More information

The Basics of Annuities: Income Beyond the Paycheck

The Basics of Annuities: Income Beyond the Paycheck The Basics of Annuities: PLANNING FOR INCOME NEEDS TABLE OF CONTENTS Income Beyond the Paycheck...1 The Facts of Retirement...2 What Is an Annuity?...2 What Type of Annuity Is Right for Me?...2 Payment

More information

GROUP LIFE INCOME FUND (LIF) FOR MCGILL FACULTY & STAFF

GROUP LIFE INCOME FUND (LIF) FOR MCGILL FACULTY & STAFF GROUP LIFE INCOME FUND (LIF) FOR MCGILL FACULTY & STAFF MY GROUP LIF/RIF PLAN... IN BRIEF At the earlier of your retirement date and attaining age 65, you will be eligible to start receiving a retirement

More information

Financialfacts. Great-West Life participating life insurance. Accountability Strength Performance

Financialfacts. Great-West Life participating life insurance. Accountability Strength Performance 2014 Financialfacts Great-West Life participating life insurance Accountability Strength Performance This guide provides key financial facts about the management, strength and performance of the Great-West

More information

Understanding Annuities: A Lesson in Variable Annuities

Understanding Annuities: A Lesson in Variable Annuities Understanding Annuities: A Lesson in Variable Annuities Did you know that an annuity can be used to systematically accumulate money for retirement purposes, as well as to guarantee a retirement income

More information

Lifetime Income Benefit Rider

Lifetime Income Benefit Rider for a secure Retirement Lifetime Income Benefit Rider (ICC13 R-LIBR.1)* with Enhanced Death(13Benefit or R-LIBR-EDB.1)* Wellbeing Rider (13 R-LIBR-W.1)* for use with Fixed Indexed Annuities Included automatically

More information

Annuity Policy. issued by Transamerica Life Canada

Annuity Policy. issued by Transamerica Life Canada issued by Transamerica Life Canada Annuity Policy ANY AMOUNT THAT IS ALLOCATED TO A SEGREGATED FUND IS INVESTED AT THE RISK OF THE OWNER AND MAY INCREASE OR DECREASE IN VALUE. TRANSAMERICA LIFE CANADA

More information

Your Best Day Can Last A Lifetime.

Your Best Day Can Last A Lifetime. Highest Daily Lifetime Income Benefit Your Best Day Can Last A Lifetime. Issued by Pruco Life Insurance Company and by Pruco Life Insurance Company of New Jersey. This material must be accompanied by a

More information

Basic Facts about Variable Annuities

Basic Facts about Variable Annuities Basic Facts about Variable Annuities Variable annuities are long-term investment vehicles that provide a unique combination of insurance and investment features. Fundamentally, a variable annuity is an

More information

RETIREMENT CHECKLIST MAKING THE MOST OF YOUR RETIREMENT

RETIREMENT CHECKLIST MAKING THE MOST OF YOUR RETIREMENT RETIREMENT CHECKLIST MAKING THE MOST OF YOUR RETIREMENT This document has been prepared for use by RBC Dominion Securities Inc.* and RBC DS Financial Services Inc., (collectively, the Companies ). The

More information

Performance Annuity. with Standard Life. Your guide to. Investment Solutions

Performance Annuity. with Standard Life. Your guide to. Investment Solutions Investment Solutions Your guide to Performance Annuity with Standard Life For insurance representative use only. This document is not intended for public distribution. title Hello. Performance Annuity:

More information

Resource Guide. Creating a plan for lifetime income in retirement

Resource Guide. Creating a plan for lifetime income in retirement Resource Guide Creating a plan for lifetime income in retirement Freedom in retirement starts with income in retirement When it comes to planning for your future, nothing should be left to chance. That

More information

Allianz MasterDex X Annuity. Allianz Life Insurance Company of North America CB52575-NFA-CA-2. Page 1 of 16

Allianz MasterDex X Annuity. Allianz Life Insurance Company of North America CB52575-NFA-CA-2. Page 1 of 16 Allianz Life Insurance Company of North America CB52575-NFA-CA-2 Page 1 of 16 Discover the MasterDex X Annuity from Allianz. A fixed index annuity from Allianz can be a valuable asset. A prudent plan shouldn

More information

Fixed Deferred Annuities

Fixed Deferred Annuities Buyer s Guide to: Fixed Deferred Annuities with Appendix for Equity-Indexed Annuities National Association of Insurance Commissioners 2301 McGee St Suite 800 Kansas City, MO 64108-2604 (816) 842-3600 1999,

More information

Allianz MasterDex 10 Plus Annuity

Allianz MasterDex 10 Plus Annuity Allianz Life Insurance Company of North America Allianz MasterDex 10 SM Plus Annuity Start building today the life you want tomorrow CB51288-03 Page 1 of 16 Discover the MasterDex 10 Plus SM Annuity from

More information

Responsible leveraging. A wealth creation strategy

Responsible leveraging. A wealth creation strategy Responsible leveraging A wealth creation strategy What is leveraging? Borrowing to invest is a wealth-building strategy that has been used for thousands of years. The financial term for borrowing to invest

More information

EMPIRE LIFE GUARANTEED INVESTMENT FUNDS 75/100 APPLICATION FOR A NOMINEE/INTERMEDIARY ACCOUNT

EMPIRE LIFE GUARANTEED INVESTMENT FUNDS 75/100 APPLICATION FOR A NOMINEE/INTERMEDIARY ACCOUNT VERSION DATE: NOVEMBER 2014 EMPIRE LIFE GUARANTEED INVESTMENT FUNDS 75/100 APPLICATION FOR A NOMINEE/INTERMEDIARY ACCOUNT Upon receiving confirmation of your contract purchase please record your contract

More information

Understanding fixed index annuities

Understanding fixed index annuities Allianz Life Insurance Company of North America Understanding fixed index annuities M-5217 Page 1 of 12 Page 2 of 12 It s time to rethink retirement. In past years, the financial markets have experienced

More information

Contract and Information Folder

Contract and Information Folder GUARANTEED INVESTMENT FUNDS OCTOBER 2015 Contract and Information Folder Financial information as of December 31, 2014 This document contains the Contract, a description of the investments, terms applicable

More information

Guide to buying annuities

Guide to buying annuities Guide to buying annuities Summary of the key points contained in this disclosure document Before you purchase your annuity contract, make sure that you read and understand this guide. While reading this

More information

Life insurance solutions for. business owners

Life insurance solutions for. business owners Life insurance solutions for business owners Life insurance solutions for business owners What s the best life insurance for business owners? It depends on where you see yourself in the future and at which

More information

Rising Income Benefit

Rising Income Benefit Rising Income Benefit Protected Lifetime Income Benefit PAC.5322 (07.15) Retirement income planning is an evolving process. Consider the years leading up to retirement. Initially, concerns often include

More information

monitor money Currency fluctuations influence returns What a strong Canadian dollar can mean to your investments

monitor money Currency fluctuations influence returns What a strong Canadian dollar can mean to your investments Newsletter for Canada Life s segregated fund investors Summer 2011 monitor money Currency fluctuations influence returns In this issue > Currency fluctuations influence returns > Segregated funds address

More information

Registered Retirement Income Funds

Registered Retirement Income Funds Registered Retirement Income Funds The Income Tax Act states that a Registered Retirement Savings Plan (RRSP) matures by December 31 of the year in which the planholder (annuitant) reaches age 69. At the

More information

Allianz Endurance Plus Annuity

Allianz Endurance Plus Annuity Allianz Life Insurance Company of North America Allianz Endurance Plus Annuity A versatile and flexible retirement solution CB59951-03 Page 1 of 16 Discover the Allianz Endurance Plus Annuity. A solid

More information