As part of retirement planning, this Annuities infographic illustrates how these investment vehicles work. An annuity is a financial product, purchased through a lump sum payment to an insurance company, and provides a pre-set distribution of income. Typically, it is used during your retirement years.
This Guide to Annuities infographic illustrates the different types of annuities and features and considerations to help determine if this is the right investment for your clients. This piece is designed to start the conversation about how these products are used in retirement planning.
Canadian life insurance companies have the obligation to be members of a consumer protection agency, so in the unlikely event that a Canadian financial institution fails, consumers are protected by a variety of compensation plans.
For more retirement resources, see these related infographic:
• When to Take Your CPP
• Retirement Readiness