NEW WESTMINSTER ANNUITY
Annuities in New Westminster BC
A New Westminster 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.
Retire Securely with Annuities in New Westminster – Expert Guidance from John Beaton
The transition from working life to retirement is a big change, and securing a reliable income stream becomes one of the top priorities for retirees in New Westminster. A guaranteed annuity can provide the financial stability you need to live confidently in retirement, with no worries about market volatility or running out of funds.
I’m John Beaton, and I’m here to help you understand how annuities work and why they could be a great choice for your retirement plan. This article will break down what an annuity is, the benefits it offers, and why it’s a smart financial decision for those looking to retire with peace of mind in New Westminster.
What is an Annuity, and How Does It Work?
An annuity is a financial product designed to provide you with a reliable income stream during retirement. You pay a lump sum upfront, and in return, you receive regular payments for a specified period or for the rest of your life. The core principle of an annuity is that it converts your lump sum into predictable, guaranteed payments that you cannot outlive.
For most retirees, the single premium immediate annuity is the most common choice. This type of annuity provides you with income right away after you make the lump sum payment, and the payments continue for the duration of the contract, ensuring that you’re always financially supported, no matter what life throws your way.
Why Choose a Guaranteed Annuity for Your Retirement in New Westminster?
When planning for retirement, many individuals in New Westminster consider various options like mutual funds, stocks, or bonds. However, one of the greatest challenges of relying on these investment vehicles is the unpredictability of returns. In contrast, guaranteed annuities offer several advantages that can make them an ideal solution for securing your retirement income.
● Predictable, Reliable Income
The primary advantage of a guaranteed annuity is that it provides predictable income. When you purchase an annuity, you know exactly how much money you will receive and when. This can help you create a stable retirement budget and eliminate the stress of fluctuating income levels.
● Protection Against Market Volatility
Unlike investments in the stock market, the income from an annuity is not affected by market conditions. Whether the market is up or down, your annuity payments remain the same, making it a safe and reliable option for retirees who want to avoid the risks of market volatility.
● Longevity Protection
A major concern for many retirees is the possibility of outliving their savings. The guaranteed annuity addresses this concern by ensuring that your payments continue for as long as you live. This means that even if you live longer than expected, you will still receive your annuity payments, giving you long-term financial security.
The Benefits of Working with John Beaton
With so many choices available, it can be difficult to know which annuity is right for you. As an experienced annuity expert John Beaton can help you navigate through the various options and choose the right solution for your specific retirement needs.
John’s goal is to provide you with clear and straightforward information so you can make an informed decision. John specializes in guaranteed annuities that provide financial security and peace of mind. He takes the time to understand your personal situation and financial goals before recommending the best options for you.
How to Get Started with Your Guaranteed Annuity
Getting started with a guaranteed annuity is simple. Here’s how the process typically works:
- Assess Your Retirement Needs – We’ll begin by discussing your retirement goals, including how much income you need and when you want to start receiving payments.
- Choose the Right Annuity – Together, we’ll review the different types of annuities available to find the one that best meets your needs.
- Make the Investment – Once you’ve chosen the annuity, you’ll make a one-time lump sum payment to fund it.
- Receive Guaranteed Payments – After your investment, you’ll begin receiving regular payments as outlined in your annuity contract, providing you with reliable, worry-free income for the rest of your life.
Contact John Beaton for Your Free Annuity Quote !
If you’re ready to secure your retirement income with a guaranteed annuity, you are invited to contact us today for a free annuity quote. As a professional in the industry John is here to help you make the best choice for your retirement, ensuring you have the peace of mind you deserve for the future.
Feel free to reach out to Beaton Annuity Services at the local phone number (604) 535-2404 or toll-free across Canada at 1-800-667-8818. For more information or to get started, visit our website at www.annuitybrokers.ca or email john@annuitybrokers.ca. Get in touch today to secure your retirement!