MISSION ANNUITY
Annuities in Mission BC
A Mission annuity is a contract between an individual and an insurance company where the individual provides a lump sum of money to the insurance company and the insurance company guarantees a lifetime income to the individual. This arrangement essentially creates a guaranteed income stream for the rest of the individual’s lifetime.
Whether you are learning about annuities for the first time or you are seeking further information about whether or not they are right for you, I believe we have provided enough information on this website in order for you to decide if an annuity would be meaningful to you. As an annuity broker, I have over thirty years of experience with annuities and the insurance companies that sell them. If you would like to speak with me directly and reside in the lower BC area, you can call me anytime at 604-535-2404. If you reside outside of the lower mainland, call toll free at 1-800-667-8818.
It’s likely that you are curious about the amount of income you can obtain monthly from the amount of capital you have to put towards an annuity purchase, so we have provided a quick and easy way to provide you with this information. Below is a list of the Canadian life insurance companies that sell annuities in your area. If you have questions, you can call John Beaton at 604-535-2404 in the lower B.C. mainland or 1-800-667-8818 if you reside outside the lower mainland.
The following Canadian life insurance companies sell annuities in British Columbia.
Assumption Life Beneva BMO Life Canada Life Desjardins Financial Security
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Empire Life Equitable Life Industrial Alliance Financial Group RBC Life Sun Life Assurance Company of Canada Wawanesa Life Insurance Company |
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Please note that the term guarantee period refers to the period of time that the insurance company must make payments to you, whether you are alive or dead. For a life pay annuity the most common guarantee periods are 5 years for registered funds and 7 years for non-registered funds. For a term certain annuity, guarantee period outlines the total length of time that payments are to be made to you.
Retirement Income Planning in Mission, BC: Consult John Beaton for Annuities
When preparing for retirement, one of the most important factors to consider is how you will receive income once you stop working. Many people in Mission, BC, look for stable and reliable solutions to ensure they can maintain their standard of living during retirement. This is where annuities come in. By offering a guaranteed income stream, annuities can play a significant role in retirement income planning.
What is an Annuity? A Simple Solution for Lifetime Income
An annuity is a contract between you and an insurance company, where you make a lump sum payment or series of payments in exchange for a guaranteed income stream for a set period or for the rest of your life. This makes annuities particularly attractive for retirees in Mission, BC who want predictable and stable income, regardless of market conditions.
One key benefit of purchasing an annuity is that you can be assured of consistent payments, which are not influenced by stock market fluctuations. This is ideal for those who are risk-averse and want to ensure they have a reliable income stream throughout their retirement.
In Canada, guaranteed annuities are particularly beneficial because there are no fees involved when purchasing them. This allows you to keep more of your money working for you, without the burden of hidden costs or commissions.
Why Are Annuities Essential for Your Retirement Plan?
Retirement is a time to relax and enjoy the fruits of your labour. However, without careful planning, many retirees worry about how long their savings will last. Annuities help eliminate that concern by providing a predictable income stream for as long as you live. Whether you are concerned about inflation, healthcare costs, or simply want to ensure your family’s financial well-being, annuities offer a safety net that allows you to live with confidence.
Moreover, an annuity allows you to lock in your income, ensuring you have a fixed payment that doesn’t change, unlike other financial products like mutual funds or stocks. This means that no matter how the market behaves, you will always know exactly how much income you’ll receive.
Types of Annuities
Understanding the different types of annuities is crucial when making an informed decision about your retirement planning. Below are the most common options available:
- Life Annuities – These annuities provide a guaranteed income for the rest of your life. This means that once you purchase the annuity, you will continue to receive regular payments, no matter how long you live. Life annuities are ideal for those who want peace of mind knowing their income will never stop.
- Term Certain Annuities – With term certain annuities, you receive regular payments for a specific number of years. If you pass away before the term ends, your beneficiaries will receive the remaining payments. This type of annuity is a good option if you want to ensure your loved ones are taken care of after your death.
- Joint and Survivor Annuities – Perfect for couples, these annuities provide income for both partners during their lifetimes. When one spouse passes away, the surviving spouse continues to receive the same guaranteed income. This option is ideal for ensuring both partners are financially secure.
- Escalating Annuities – These annuities provide income that increases over time to help keep up with inflation. While not commonly used in retirement, this option can be beneficial for individuals who want their payments to grow over time.
How John Beaton Can Help You with Annuity Planning
With years of experience helping clients across Mission, BC John Beaton is a trusted expert in annuities and retirement income planning. John specialize in guaranteed annuities, which provide a reliable income stream and peace of mind for his clients.
John’s goal is to help you make informed decisions about your retirement plan. By understanding your unique financial situation and goals, he can guide you toward selecting the annuity option that best suits your needs. With a focus on guaranteed single premium purchase annuities, John will ensure that your retirement plan remains simple and straightforward.
A Personalized Approach to Your Retirement Planning
When you choose to work with him, you can expect a personalized approach. John will take the time to listen to your needs and explain your options clearly. There are no sales pitches—just practical, honest advice. His aim is to help you make the best decision for your future, providing solutions that align with your financial goals.
Whether you’re new to annuities or looking for a better option, John Beaton is here to help you every step of the way. John’s focus is always on your long-term financial security, so you can enjoy your retirement without worry.
Getting Started with Your Annuity Plan!
If you’re ready to explore annuities as part of your retirement income plan, the next step is simple. Contact John Beaton, for a free, no-obligation consultation. Together, we’ll review your financial goals and discuss how an annuity can provide the steady income you need to enjoy your retirement years. John Beaton, annuity broker offers clear guidance and answers any questions you may have about the process. With John’s expertise, you can trust that your retirement will be financially secure.
To get started, reach out to John Beaton, annuity broker at (604) 535-2404, or if you’re calling from outside the area, use toll-free number 1-800-667-8818. For more information, visit the website at www.annuitybrokers.ca, or feel free to email at john@annuitybrokers.ca.