{"id":1123,"date":"2013-02-19T12:47:26","date_gmt":"2013-02-19T17:47:26","guid":{"rendered":"http:\/\/www.lifeannuities.com\/blog\/?p=1123"},"modified":"2013-02-19T12:47:26","modified_gmt":"2013-02-19T17:47:26","slug":"10-easy-steps-on-how-to-buy-an-annuity","status":"publish","type":"post","link":"https:\/\/lifeannuities.com\/blog\/retirement\/10-easy-steps-on-how-to-buy-an-annuity","title":{"rendered":"10 Easy Steps On How To Buy An Annuity?"},"content":{"rendered":"<p><strong>1. Ask an annuity broker<\/strong><br \/>\nAsk an <a href=\"http:\/\/www.lifeannuities.com\/annuity-broker.html\">annuity broker<\/a> to find the best deal for you by shopping around to compare <a href=\"http:\/\/www.lifeannuities.com\/annuity_rates\/index.html\">annuity rates<\/a> from all the insurance companies that sell annuities in Canada.<\/p>\n<p><strong>2. Decide on the type of annuity that fits your needs.<\/strong><br \/>\n<strong>a.<\/strong> <a href=\"http:\/\/www.lifeannuities.com\/singlelife_annuity.html\">Single life annuity<\/a><br \/>\n<strong>b<\/strong>. <a href=\"http:\/\/www.lifeannuities.com\/jointlife_annuity.html\">Joint life annuity<\/a><br \/>\n<strong>c.<\/strong> <a href=\"http:\/\/www.lifeannuities.com\/termcertain_annuity.html\">Term certain annuity<\/a><\/p>\n<p><strong>3. Fund type<\/strong><br \/>\n<strong>a.<\/strong> Are the funds from a non-registered account (savings, chequing, TFSA or GIC)<br \/>\n<strong>b.<\/strong> Are the funds from a registered account (RRSP, RRIF or RPP)<\/p>\n<p><strong>4. Premium amount<\/strong><br \/>\nThe amount of funds you are willing to invest in the annuity.<\/p>\n<p><strong>5. Payment frequency<\/strong><br \/>\nWhen would you like to receive the payments (monthly, quarterly, semi-annual, annually)<\/p>\n<p><strong>6. Decide on the extra options you want<\/strong><br \/>\n<strong>a.<\/strong> Guarantee period (none, 5yr, 10yr, 15yr, 20yr or maximum available) Provides you with income for life, plus guarantees X years of payments to your beneficiary in case you die within the first X years of your contract.<\/p>\n<p><strong>b<\/strong>. Indexing option<br \/>\nPayments increase with inflation to maintain your buying power<\/p>\n<p><strong>7. Purchase date<\/strong><br \/>\nThe date when you would like to buy the annuity<\/p>\n<p><strong>8. Start date<\/strong><br \/>\nThe date when you want the annuity payments to start. The norm is usually month after the purchase.<\/p>\n<p><strong>9. Signed Application, Copy of ID, <strong>Void cheque<\/strong>, Cheque\u00a0 (for non-registered funds) or Transfer form (for registered funds)<\/strong><br \/>\nThe following documents are then sent to the insurance company by the agent or broker for the annuity contract to be issued.<\/p>\n<p><strong>10. Annuity Contract<\/strong><br \/>\nThe contract is then sent to the annuitant and the income payments are deposited into your account.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>1. Ask an annuity broker Ask an annuity broker to find the best deal for you by shopping around to[&#8230;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[1],"tags":[189,161,5,177,159,190,191],"class_list":["post-1123","post","type-post","status-publish","format-standard","hentry","category-retirement","tag-189","tag-an","tag-annuity","tag-buy","tag-how","tag-steps","tag-to"],"_links":{"self":[{"href":"https:\/\/lifeannuities.com\/blog\/wp-json\/wp\/v2\/posts\/1123","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lifeannuities.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lifeannuities.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lifeannuities.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/lifeannuities.com\/blog\/wp-json\/wp\/v2\/comments?post=1123"}],"version-history":[{"count":6,"href":"https:\/\/lifeannuities.com\/blog\/wp-json\/wp\/v2\/posts\/1123\/revisions"}],"predecessor-version":[{"id":1129,"href":"https:\/\/lifeannuities.com\/blog\/wp-json\/wp\/v2\/posts\/1123\/revisions\/1129"}],"wp:attachment":[{"href":"https:\/\/lifeannuities.com\/blog\/wp-json\/wp\/v2\/media?parent=1123"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lifeannuities.com\/blog\/wp-json\/wp\/v2\/categories?post=1123"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lifeannuities.com\/blog\/wp-json\/wp\/v2\/tags?post=1123"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}