Pros & Cons of Life Annuities

pros and cons life annuities
Infographic: Pros and Cons of Life Annuities

The Pros of Annuities

  • Simple
  • A life annuity ensures you do not have to worry about stock market failures.

  • Life Income
  • Annuity payments are for life.

  • Tax Advantages
  • You receive a tax advantage when you use non-registered funds.

    Personal Pension Plan

  • Annuities can create a pension for those without pension plans.

The Cons of Annuities

  • Age Disparity
  • Lower payments for joint annuities.

  • Longevity
  • Longevity could affect the amount of payment.

  • Multiple Companies
  • Need to split capital to obtain 100% income guarantee.

  • Commmitment
  • You cannot change the terms of annuity.

Phil Barker

About the Author

Phil Barker

Phil Barker is a leading expert on life annuities in Canada. has different financial products and has been a recognized authority since 1972.

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