Income Annuities and Guaranteed Interest Options
With a lifetime income annuity, London Life will pay you a regular income for the rest of your life. This guaranteed income can help to cover your basic living expenses, no matter how long you live.
Income annuities can be the right income choice if you are:
- Near or in retirement.
- Concerned about outliving your money.
- Concerned poor financial markets may reduce your retirement savings.
- Seeking a steady income stream to cover your essential expenses.
- In need of income until your Canada Pension Plan (CPP) or Quebec Pension Plan (QPP) and old age security (OAS) payments begin.
- Looking to convert your registered retirement savings plan (RRSP) funds into a regular income stream.
Benefits of Income Annuities
- Regular income payments for life or a fixed time, regardless of market performance or changes in interest rates
- The guaranteed income acts similar to a pension plan and can fill a gap if you don’t have a pension from work
- The income from your annuity isn’t affected by financial market changes
- Supplements other income
- Access to cash (when the cashable feature is available)
Income Annuities and the HelloLife Retirement Program
Lifetime income annuities provide a stream of guaranteed income for as long as you live, giving you certainty and stability for your retirement income portfolio. They can be a part of the HelloLife retirement program.
Guaranteed interest options
- Our guaranteed interest option (GIO) provides a guaranteed rate of return on the original amount invested provided there are no redemptions.
- A GIO with a named beneficiary gives you the additional benefits of an insurance policy such as bypassing probate, legal and other estate fees on death.
Interested in finding out more about the products and financial security planning services we offer? Contact us.
Contact us if you already have one of the products or services we offer and you need help.
Say HelloLife with a retirement program from London Life.
Rates and Fund Performance
Find out more about our segregated funds, mutual funds, guaranteed interest option rates and fund performance.