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What is an Annuity?
An annuity is a form of investment for individuals looking for predictable cash flow. In simple terms it is a contract between the individual and a financial services provider (like an insurance company). You, as the investor and eventual annuity owner, agree to provide a principal amount – as your investment – on the purchase of the annuity. The financial services company, who acts as the issuer of the annuity, will in return, agree to pay you fixed or variable payments over an agreed duration of time.
The payments you receive on your annuities are determined based on:
- Your age (for life annuities)
- The existing interest rates in the market (which fluctuate with the economy)
- The duration of time for which the payments are guaranteed
- The principal amount of money which is used to purchase the annuity
Annuities – Canada
As an investment option, annuities in Canada provide guaranteed and solid cash flows. Canadian annuity rates are extremely competitive and the risks are minimal. So if you are a mature risk adverse investor who wants to ensure that your daily expenditures are taken care of after retirement or someone who has extra capital for which you want definite returns, annuities may be the investment of choice for you.
The benefits Canadian annuities bring forth for you as an investor include:
- Minimal investment risk
- Once contract is signed, your returns do not change in amount or frequency
- Financial security
- Guaranteed income
If you are looking to invest in annuities you should know that in Canada annuities are only offered by licensed insurance advisors. Annuity rates for annuities in Canada can be obtained from experienced annuity and life advisors throughout the country. While the services of these issuers will be extremely friendly and efficient it is good for the investor to know that the prices, quotes and rates of return can vary from issuer to issuer. As with all types of products, financial or non-financial, Canadian annuities too will differ in the features offered.
The different types of annuities offered in Canada include but are not limited to:
- Single Life Annuities
- Joint Life Annuities (for either or survivor of the spouses)
- Cashable Annuities (can be exchanged for cash in certain conditions)
- Term Certain Annuities (fixed monthly income till the age of 90 or another term)
- Variable Annuities (varying rates of return with a minimum amount guaranteed as payable)
If you are looking for investing in annuities in Canada, why not consider Guaranteedinvestments.com. The professional and diverse staff at Guaranteedinvestments.com will provide you with expert opinions and make sure that you invest in an alternative that is best suited to your financial requirements. Guaranteedinvestments.com provides potential investors access to an impressive portfolio of secure and dependable investment alternatives including annuities, guaranteed investment funds, GICs, insured annuities, guaranteed minimum withdrawal benefit plans , guaranteed lifetime withdrawal benefit plans and much more.
Contact the professionals today at Guaranteedinvestments.com
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