Guaranteed Lifetime Income
The 2018 Guaranteed Lifetime Income Study
The top retirement concerns in this survey of 1003 retirees and pre-retirees aged 55-75, was conducted on behalf of Sun Life and Great-West life.
Can they afford to live to age 85 is the question in most people's minds. If you don't have a defined benefit pension plan, inflation indexed like public servants, then you definitely need a guaranteed lifetime income. With aging affecting your ability to keep moving your money around, rising inflation and longevity makes outliving your money a real concern.
The study also found that 76% of women think that it is important that essential living expenses be covered by a guaranteed lifetime income source.
The survey confirms what our clients continue to tell us. They need a private income like an annuity, registered or non-registered, to guarantee they will have income for life. They are tired of trying to find the best fund or best interest rate and just want a cheque, guaranteed to be in their account each month.