Annuities can be immediate or deferred, both have a place in retirement and financial planning.
With an immediate annuity, you exchange a lump sum for an immediate income. Unit Linked Annuities are sometimes called variable annuities. With this type of annuity the income you receive varies totally or partially based on the performance of funds you have selected.
A Deferred annuities can be thought of as an accumulation vehicle. The value of Unit linked annuities or variable annuities (called segregated funds in Canada) fluctuate based on the performance of the funds selected.
If you have any further questions, please do n ot hesitate to contact me.
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With an immediate annuity, you exchange a lump sum for an immediate income. Unit Linked Annuities are sometimes called variable annuities. With this type of annuity the income you receive varies totally or partially based on the performance of funds you have selected.
A Deferred annuities can be thought of as an accumulation vehicle. The value of Unit linked annuities or variable annuities (called segregated funds in Canada) fluctuate based on the performance of the funds selected.
If you have any further questions, please do n ot hesitate to contact me.