Friday, July 30, 2010
Questions & Answers
Are you concerned about running out of money?
Answer: If your investments are not giving you a good return or you're eating up your RRIF funds, you won't have the capital to guarantee that you'll always have a cheque coming in on the 1st of the month. A life annuity guarantees you inomce for life. When you are older, it's too late to start saving
How much money should you put in a life annuity?
Answer: Enough to guarantee the income you want or whatever amount with which you are confortable.
Are you worried about leaving something to your heirs?
When is the best time to buy a life annuity?
Answer: Ladder your purchases by buying peices at a time.
How are life annuities sold?
What if my insurer becomes insolvent?
What are the coverage limits in case the insurance company faulters?
What should I do if my annuity income is over $2000 a month?
Answer: Divide your purchase among highly rated carriers.
How can I compare quotes from all the insurance companies in Canada?
Answer: LifeAnnuities.com can help you compare and achieve the best return for your money. They compare all the companies in Canada and email you the results within 24 hours.
What is the maximum age to convert my RRSP?
Answer: Age 71
What do I do with my RRSP when I turn 71?
What if my insurance company goes bankrupt?
What is the simplest definition of a single immediate life annuity?
Answer: A life annuity is a swap, you provide a lump sum to an insurer, in exchange, they give you a steady stream of income for life.
How can I be protected from losing or robbed of all my life savings?
Answer: A life annuity prevents you from being stripped of all your life savings.
