Planning for your retirement is one of the most important steps in an individual's life. That's because investing is an essential part of protecting yourself and the ones you love for years to come.
So, what's the difference between a fixed annuity and a variable annuity? A fixed annuity pays out a fixed rate of income after a certain date—very simple. The payments from a variable annuity, on the other hand, will vary according to the performance of the underlying portfolio. If you're not sure which option will suit you best, our network of expert advisors in Chestermere is ready to help. We have more than 70 years of experience helping Canadians make sound investments through annuities, TFSAs, RRSPs, and more.
Whether it's a fixed annuity or a variable annuity in Chestermere, an annuity can become a vital income source following retirement, as they are essentially a contract made with a financial institution that provides you with a series of payments following retirement. Depending upon your needs, the lump sum benefit amount of this critical illness insurance coverage can range from $25, 000 to $2, 000, 000. For help selecting the right option for you, talk to a Co-operators Financial Advisor today.
Single Life Annuity, Joint and Last Survivor Life Annuity and Life Annuity with a Guarantee are the options available. The Single Life Annuity is for individual investors without dependents; Last Survivor and the Joint Life Annuity in Chestermere are especially for couples; and the Life Annuity with a Guarantee option is suitable for practically everybody.
Chestermere has a public annuity policy system that provides a minimum level of mandatory coverage to vehicle owners when they purchase license plates.