Annuities are issued by life insurance companies. Annuities are a contract between the person obtaining the annuity and the life insurance company that offers it. The annuity is protected by the many regulations that life insurance companies must hold to in order to stay in business, and in to stay in the good graces of rating companies.
Term certain annuities are sold by a number of financial institutions including insurance companies, bank and trust companies. As the name implies, in exchange fora lump sum premium you receive an income for a specified term
Life annuities are sold only by life insurance companies. As the name implies in exchange for a lump sum premium you receive a guaranteed income stream for the rest of your life. These type of annuities are available on a joint life basis and can have minimum guaranteed payout.
If you have further questions, or feel that I could be of assistance, please do not hesitate to contact me.If you would like to work with a local life insurance broker, you could start with a Google search. For example, if you search for: life insurance broker Halifax or life insurance agent Halifax, my name, along with several others, will come up. You can use the same method to find a life insurance broker in your community.
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Life annuities are sold only by life insurance companies. As the name implies in exchange for a lump sum premium you receive a guaranteed income stream for the rest of your life. These type of annuities are available on a joint life basis and can have minimum guaranteed payout.
If you have further questions, or feel that I could be of assistance, please do not hesitate to contact me.If you would like to work with a local life insurance broker, you could start with a Google search. For example, if you search for: life insurance broker Halifax or life insurance agent Halifax, my name, along with several others, will come up. You can use the same method to find a life insurance broker in your community.