Variable annuities are not bad, Whether they are right for you depends on your individual situation.
In Canada variable deferred annuities (during investment accumulation phase) are often referred to as segregated funds or seg funds. Seg funds are similar to mutual funds so your investment is at risk, but since they are issued by an insurance company they have minimum maturity and death guarantees typically 75% or 100%. Some companies also offer resetting or locking in of investment gains.
In order to determine if, or which, investment funds are right for you, a risk tolerance questionnaire should be completed. In addition, before you purchase you are to receive an information folder in the interest of complete disclosure. You will find more information on segregated funds at my web site www.jpw.ca
Immediate variable payout annuities have a portion or all of the income dependent on the performance of a fund or index.
An independent insurance agent / broker will be able to assist you with options from a number of companies.
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.
Business Development Officer, T.D. McNeil Insurance Services, Fresno, California
A variable annuity is a financial planning tool. It can help some customers but is not necessarily correct for everyone. The variable annuity addresses the risk of inflation, which a fixed annuity doesn’t. The fixed annuity addresses the risk of safety of principle, which the variable annuity does not. It is like comparing a stock portfolio with a savings account.
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In Canada variable deferred annuities (during investment accumulation phase) are often referred to as segregated funds or seg funds. Seg funds are similar to mutual funds so your investment is at risk, but since they are issued by an insurance company they have minimum maturity and death guarantees typically 75% or 100%. Some companies also offer resetting or locking in of investment gains.
In order to determine if, or which, investment funds are right for you, a risk tolerance questionnaire should be completed. In addition, before you purchase you are to receive an information folder in the interest of complete disclosure. You will find more information on segregated funds at my web site www.jpw.ca
Immediate variable payout annuities have a portion or all of the income dependent on the performance of a fund or index.
An independent insurance agent / broker will be able to assist you with options from a number of companies.
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.