In Canada, variable annuities are typically called segregated funds (the funds are segregated or separate from the other assets of the insurance company).
With payout variable annuities all or a portion of the income received depends on the performance of the funds chosen.
A deferred or accumulation annuity (segregated fund) is similar to a mutual fund were the value depends on the performance of the funds you have chosen and your money is a risk.
Since segregated funds are issued by insurance companies they contain death benefit and maturity guarantees. Some offer resets so you can lock in gains.
Your advisor will be required to give you with an information folder prior to purchase to provide you with complete disclosure.
You will find additional information on my website www.jpw.ca
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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With payout variable annuities all or a portion of the income received depends on the performance of the funds chosen.
A deferred or accumulation annuity (segregated fund) is similar to a mutual fund were the value depends on the performance of the funds you have chosen and your money is a risk.
Since segregated funds are issued by insurance companies they contain death benefit and maturity guarantees. Some offer resets so you can lock in gains.
Your advisor will be required to give you with an information folder prior to purchase to provide you with complete disclosure.
You will find additional information on my website www.jpw.ca
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.