What are My Options? Most annuities allow the inclusion of options to meet individual preferences and needs. Some of the more common ones include: • Annuity Payment Guarantee Period: Annuity holders can choose a specific guarantee period (e.g., 10 years) or extend it until a specified age. After this period, the annuitant will continue to receive payments as long as they live. If the annuitant dies within the guarantee period, their beneficiary continues to receive payments until the end of the guarantee period. • Joint and Last Survivor Option: Ensures that the payments continue for the lifetime of the surviving spouse after the annuitant passes away. • Indexation Option: Gradually increases the payment amount every year, usually by a fixed percentage (e.g., 3%) to help account for inflation. • Cash Refund Option: A beneficiary receives the difference between the single premium paid to purchase the annuity and the total payments made to the annuitant upon their death. Annuities have become an attractive financial tool for investors seeking guaranteed income, stability, and security. With various options available to suit individual needs, annuities offer a compelling alternative to traditional investment options. There are many reasons why an annuity may be a good investment for you. These are just a few of the benefits that annuities can offer: The Benefits of Annuities Guaranteed Income for Financial Security: Annuities offer a reliable income stream, providing financial security and stability. Protection against Market Fluctuations: Unlike investments exposed to market volatility, annuities offer a haven from market fluctuations. Support for Longevity: With life annuities, you are protected from outliving your savings. Financial Empowerment for a Lifetime: Annuities promote financial empowerment by securing a steady income stream even after regular employment income ceases. Flexibility in Surrendering Annuities: Should the need arise, annuities can be “surrendered” for their cash value. Beneficiary Protection: With a term annuity, if the annuitant passes away before the guarantee period ends, the designated beneficiary will receive any remaining payments. With a life annuity, there are options that can be chosen to provide money to a beneficiary or estate, or to transfer payments to a surviving spouse/partner. With inflation and the rising cost of living, annuities keep your income secure from both market risks and changes to interest rates. To determine if an annuity is suitable for your needs talk to an advisor from CDSPI Advisory Services Inc. Footnotes 1 Environics Research is an independent Canadian polling and market research. The anonymous survey focused on retirement and was conducted online in August 2021. * Rate calculations are as of October 19, 2023. Rates are subject to change. Restrictions may apply depending on the annuitant’s age or the source of the funds. Spouse refers to a legally married spouse or a common-law partner. The current value, or discounted value, refers to the value at the time of death of any annuity payments that would have been made in the future. If the guarantee period has ended, the beneficiary will no longer receive payments. DESJARDINS INSURANCE refers to Desjardins Financial Security Life Assurance Company. DESJARDINS INSURANCE and its logo are trademark of the Fédération des caisses Desjardins du Québec used under licence. 200 Rue Des Commandeurs, Lévis QC G6V 6R2 / 1-866-647-5013. The information contained in this article is of a general nature only and should not be considered personal insurance, investment or financial advice. For specific advice about your situation, please consult with your financial advisor. 1.800.561.9401 cdspi.com What are My Options? Most annuiti s allow the inclusion of opti ns to e t individual preferences and needs. Some of the more common ones include: • Annuity Payment Guarantee Period: Annuity holders can choose a specific guarantee period (e.g., 10 years) or exte d it until a sp cified age. After this peri d, the nnuitant will continue to receive payments as lo g as they liv . If the annuitant dies within the guarant e period, their beneficiary continues to receive payments until the end of the guarantee period. • Joint and Las S rvivor Option: Ensures that the payments continue for the lifetime of the surviving spouse after the annuitant passes away. • Indexation Option: Gradually increases the payment amount every year, usually by a fixed percentage (e.g., 3%) to help account for inflation. • Cash Refund Option: A beneficiary receives the difference between the single premium paid to purchase the annuity and the total payments made to the annuitant upon their death. Annuities have become an attra tive financial tool for investors seeking guaranteed income, stability, and s curity. With various options available to suit individual needs, annuities offer a compelling alternative to traditional investment options. Th re are many reasons why an annuity may be a good investment for you. These are just a few of the benefits that annuities can offer: The Benefits of Annuities Guaranteed Income for Financial Security: Annuities offer a reliable income stream, providing financial security and stability. Protection again t Market Fluctu tions: U like investments exposed to market volatility, annuities offer a haven from market fluctuations. Support fo Longevity: With life annuities, you are protected from outliving your savings. Financial Empower ent for a Lifetime: Annuities promote financial empowerment by securing a steady income stream even after regular employment income ceases. Flexibility n Surrendering A nuities: Should the need arise, annuities can be “surrendered” for their cash value. Beneficiary Protection: With a t rm an uity, if the annuitant passes away before the guarantee period ends, the designated beneficiary will receive any remaining payments. With a life annuity, there are options that can be chosen to provide money to a beneficiary or estate, or to transfer payments to a surviving spouse/partner. With i flation and the rising cost of living, an uities keep your income secure from both market risks and changes to interest rates. To determine if an annuity is suitable for your needs talk to an advisor from CDSPI Advisory Services Inc. Footnotes 1 Environics Research is an independent Canadian polling and market research. The anonymous survey focused on retirement and was conducted online in August 2021. * Rate calculations are as of October 19, 2023. Rates are subject to change. Restrictions may apply depending on the annuitant’s age or the source of the funds. Spouse refers to a legally married spouse or a common-law partner. The current value, or discounted value, refers to the value at the time of death of any annuity payments that would have been made in the future. If the guarantee period has ended, the beneficiary will no longer receive payments. DESJARDINS INSURANCE refers to Desjardins Financial Security Life Assurance Company. DESJARDINS INSURANCE and its logo are trademark of the Fédération des caisses Desjardins du Québec used under licence. 200 Rue Des Commandeurs, Lévis QC G6V 6R2 / 1-866-647-5013. The information contained in this article is of a general nature only and should not be considered personal insurance, investment or financial advice. For specific advice about your situation, please consult with your financial advisor. 1.800.561.9401 cdspi.com What are My Options? Most annuities allow the inclusion of options to meet individual preferences and needs. Some of the more common ones include: • Annuity Payment Guarantee Period: Annuity holders can choose a specific guarantee period (e.g., 10 years) or extend it until a specified age. After this period, the annuitant will continue to receive payments as long as they live. If the annuitant dies within the guarantee period, their beneficiary continues to receive payments until the end of the guarantee period. • Joint and Last Survivor Option: Ensures that the payments continue for the lifetime of the surviving spouse after the annuitant passes away. • Indexation Optio : Gr dually increases the payment amount every year, usually by a fixed percentage (e.g., 3%) to help account for inflation. • Cash Refund O tion: A benefici ry receives the difference between the single premium paid to purchase the annuity and the total payments made to the annuitant upon their death. An uit es have become an attractive financial tool for investors seeking guaranteed income, stability, and security. With various options available to suit individual needs, annuities offer a compelling alternative to traditional investment options. There are many reasons why an annuity may be a good investment for you. These are just a few of the benefits that annuities can offer: The Benefits of Annuities Guarante d Inc me for Financial Security: Annuities offer a reliable income stream, providing financial security and stability. Protection against Market Fluctuations: Unlike investments exposed to market volatility, annuities offer a haven from market fluctuations. Support for Longevity: W th life annuities, you are protected from outliving your savings. Financial Empowerment for a Lifetime: Annuities promote financial empowerment by securing a steady income stream even after regular employment income ceases. Flexibility in Surrendering Annuities: Should the need arise, annuities can be “surrendered” for their cash value. Beneficiary Protection: With a term annuity, if the annuitant passes away before the guarantee period ends, the designated beneficiary will receive any remaining payments. With a life annuity, there are options that can be chosen to provide money to a beneficiary or estate, or to transfer payments to a surviving spouse/partner. With inflation a d he rising cost of living, n uities keep your income secure from both market risks and changes to interest rates. To determine if an annuity is suitable for your needs talk to an advisor from CDSPI Advisory Services Inc. Footnotes 1 Environics Research is an independent Canadian polling and market research. The anonymous survey focused on retirement and was conducted online in August 2021. * Rate calculations are as of October 19, 2023. Rates are subject to change. Restrictions may pply depen ing on the an uit t’s age or the source of the funds. Spouse refers t a legally married spouse or a common-law partner. The curre t value, or discou ted value, refers to the v lue at the time of death of any annuity payments that would have been made in the future. If the guarantee period has ended, the beneficiary will no longer receive payments. DESJARDINS INSURANCE ref rs to Desjardins Financial Security Lif Assur nce Compa y. DESJARDINS INSURANCE and its logo are radema k of the Fédération des caisses Desjardins du Québ c used under licence. 200 Rue Des Commandeurs, Lévis QC G6V 6R2 / 1-866-647-5013. The information contained in this article is of a general nature only and should not be considered personal insurance, investment or financial advice. For specific advice about your situation, please consult with your financial advisor. 1.800.561.9401 cdspi.com 31 Issue 6 | 2023 | SupportingYour Practice
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