A life annuity pays a predetermined periodic payment for the life of the annuitant. The combination of interest rate and mortality credits credited to the policy are the two key factors in the life payout. The annuitant’s age and gender play a key role in the calculation of the payout.
Life insurance policies have settlement options that include payout annuities.
That means you can covert the cash value into an income flow for retirement income. You should check to be sure you understand any tax consequences.
It also means that the death benefit can be paid as an annuity income. You could direct that a beneficiary receives a life income rather than a lump sum for example.
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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That means you can covert the cash value into an income flow for retirement income. You should check to be sure you understand any tax consequences.
It also means that the death benefit can be paid as an annuity income. You could direct that a beneficiary receives a life income rather than a lump sum for example.
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.