{"id":162,"date":"2011-04-12T12:20:31","date_gmt":"2011-04-12T17:20:31","guid":{"rendered":"http:\/\/www.lifeannuities.com\/blog\/?p=162"},"modified":"2011-04-12T12:20:31","modified_gmt":"2011-04-12T17:20:31","slug":"bmo-lifetime-cash-flow-plan","status":"publish","type":"post","link":"https:\/\/lifeannuities.com\/blog\/retirement\/bmo-lifetime-cash-flow-plan","title":{"rendered":"BMO: Lifetime Cash Flow Plan"},"content":{"rendered":"<p>The BMO is getting into the life annuity business, or so it would seem,with their introduction of the Lifetime Cash Flow Plan.<\/p>\n<p>Article: <a href=\"http:\/\/www.theglobeandmail.com\/globe-investor\/rivals-call-foul-claim-bmo-breaching-insurance-rules\/article1980936\/\">Rivals call foul, claim BMO breaching insurance rules<\/a><\/p>\n<p>So,first of all,does it have the guarantees of a life annuity,where a life insurance company is required to maintain reserves to make the payments? And those payments could be payable for a longer time than even 10 years ago, as people are kept alive longer with drugs and new treatments.<\/p>\n<p>The next question to answer is how do we define a life annuity? If this Lifetime Cash Flow plan is paying you for life,isn,t that a life annuity?<br \/>\nOr is it a mutual fund with a promised and guaranteed return? So in that case it is a segfund.<\/p>\n<p>It seems that the banks are trying to go in the direction of guarantees,while 2 life insurers are now issuing cashable annuities, getting away,to some extent,from the guaranteed life annuity.<\/p>\n<p>Once a person decides to start using their funds to enjoy their retired life,each will have to decide on a life annuity or some product like this Lifetime Cash Flow plan.We,ll watch the clash of interests between the big boys and hope that the consumer wins.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The BMO is getting into the life annuity business, or so it would seem,with their introduction of the Lifetime Cash[&#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":[],"class_list":["post-162","post","type-post","status-publish","format-standard","hentry","category-retirement"],"_links":{"self":[{"href":"https:\/\/lifeannuities.com\/blog\/wp-json\/wp\/v2\/posts\/162","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=162"}],"version-history":[{"count":1,"href":"https:\/\/lifeannuities.com\/blog\/wp-json\/wp\/v2\/posts\/162\/revisions"}],"predecessor-version":[{"id":163,"href":"https:\/\/lifeannuities.com\/blog\/wp-json\/wp\/v2\/posts\/162\/revisions\/163"}],"wp:attachment":[{"href":"https:\/\/lifeannuities.com\/blog\/wp-json\/wp\/v2\/media?parent=162"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lifeannuities.com\/blog\/wp-json\/wp\/v2\/categories?post=162"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lifeannuities.com\/blog\/wp-json\/wp\/v2\/tags?post=162"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}