This is an introductory guide designed to provide basic information about using annuities for retirement planning.
|
|
- Crystal Rose
- 6 years ago
- Views:
Transcription
1 Introduction This is an introductory guide designed to provide basic information about using annuities for retirement planning. How much do you need for retirement? In general, a retired individual may need approximately 60% of his/her last drawn salary to maintain his/her existing standard of living during retirement. The Employees Provident Fund (EPF) contribution can be an important source of retirement income but it may not be sufficient to finance your total retirement needs. A survey by EPF showed that about 72% of contributors spent all their savings within three years of withdrawal upon retirement. As such, you may need to supplement your EPF savings. One way of doing this is to use annuities to provide you with a stream of income during your retirement years. What is an annuity and why do you need one? An annuity is a contract by which an insurance company agrees to provide a stream of income to someone for life, in exchange for a lump sum payment, or otherwise called premium contribution. This ensures the lump sum that you have is converted into a lifetime income, thus removing the uncertainty and problems that you may face should you outlive your financial resources. You may also purchase an annuity plan that guarantees income payment for your loved ones after your demise. To purchase an annuity plan, you may pay to an insurance company a lump sum premium just before retirement. Alternatively, you can make periodic premium payments until your selected retirement age. Upon retirement, the insurance company would provide monthly income payments for the rest of your life. You can buy annuities from any life insurance company which offers annuity products.
2 Types of annuity The common types of annuity plans are:- Immediate annuity the income payments begin within 12 months after you buy the annuity. This is suitable for those who are about to retire or have already retired. The premium is paid as a lump sum at the time of purchase. As shown in Diagram 1, if you retire at age 55 and you make a lump sum premium contribution to the insurance company, you may receive your first income payment within 12 months after paying the lump sum premium. Deferred annuity the income payments begin more than 12 months after you buy the annuity. You may buy this type of annuity plans at any time during your working years. The premium can be paid as a lump sum, which will be left to accumulate with the insurance company, or you may make a series of periodic payments up till your retirement. Example: At the age of 30, you may purchase a deferred annuity that begins income payments at age 55. You can choose to either pay a lump sum premium then or make yearly premium payments until you are 54. The lump sum premium paid at age 30 will be smaller compared with what you have to pay if you purchase an immediate annuity at age 54. This is because the premium paid at age 30 will be invested by the insurance company during the savings accumulation period (refer Diagram 2).
3 Saving for an annuity In order to purchase an annuity, you may need to have a savings arrangement that enables you to purchase an immediate annuity upon your retirement. Alternatively, if you want to pay a smaller premium, you may want to consider purchasing a deferred annuity, where the premiums paid earlier in your life will be invested by the insurance company to accumulate the amount needed to provide for your retirement income. It is advisable to start saving as early as possible during your working years to build enough funds to provide you with a worthwhile income when you retire. For example, if you save RM30.64 per month for 30 years, and assuming an average interest rate of 6% per year, this will give you a lump sum of RM30,000. With this lump sum, you can purchase an immediate annuity that gives you an income of about RM120 per month. If you save RM per month for 30 years, with the same average interest rate of 6% per year, this will give you a lump sum of RM100,000. With this lump sum, you can purchase an immediate annuity that gives you an income of about RM400 per month. [Note: the above figures are used purely for illustration purposes. The actual premium rates of annuity payment (i.e. the income stream) are subject to changes]. Choosing the right annuity The type of annuity you choose and its benefits will determine the amount of income you will receive during retirement. It is important to check all the options offered by various insurance companies before you buy the annuity plan that best suits your needs. The amount of income payment you will receive will depend on: i) the amount you pay to purchase the annuity; ii) your age when you purchase annuity and your sex; and iii) the benefits options you choose (see below). You can usually choose to have your income paid every month, every three months, every six months or once a year. The common types of benefit options of annuity plans are:
4 Level annuity without guaranteed period pays a fixed regular income as long as you live. Level annuity with a guaranteed period pays a fixed regular income for the rest of your life, or at least for a guaranteed period. Example: A person purchases an annuity with a guaranteed period of 10 years. If he dies after 6 years, the annuity payments will continue to be paid to his beneficiary for the remaining 4 years. If he outlives the guaranteed period of 10 years, he will continue to receive the income payment for as long as he lives. Increasing annuity pays an income which increases each year at a specified rate to partially protect your income from inflation, for the rest of your life. With increasing annuity, the starting income is normally lower than you would get from a level annuity, but it will provide you with better income some years later in your retirement period. Joint-life annuity pays an income for the rest of your life, and then continues to pay the income to your partner for the rest of his/her life, after your demise. However, income to your partner may be for a reduced amount. Example: A joint-life annuity for RM1,000 per month may continue to pay a reduced income of RM500 per month after the demise of the first partner as long as the other partner lives. How to lodge a complaint and the redress avenues available If you have a complaint about the product or services of your insurance company or if you are not satisfied with the rejection or offer of settlement of a claim, you should first try to resolve the complaint with the Complaints Unit of the insurance company concerned. If you are still not satisfied with the decision, you can write either to the Financial Mediation Bureau (FMB) or Bank Negara Malaysia (BNM), which will handle your complaints free of charge. You may wish to check with the officer of the Complaints Unit of the insurance company on the proper avenues for dealing with your complaint. [Note: Before the FMB was established, insurance mediation was handled by the Insurance Mediation Bureau]. If you need to submit your complaint to FMB, it must be done within six months from the date of the insurance company s final decision. The FMB handles disputes between claimants and their own or third party insurance company.
5 The FMB is an independent body that provides consumers with fast, convenient and efficient avenue to refer their complaints or disputes for resolution as an alternative to the courts. The FMB, however, will not handle disputes involving pricing of insurance products and underwriting issues, fraud cases and cases that have been or are referred to the court. In addition, complaints referred to the FMB are limited to the following:- - RM200,000 for motor and fire insurance policies. - RM100,000 for other types of insurance policies. - RM5,000 for third party property damage. For cases not within the purview of the FMB, you may refer them to BNM. Detailed information on how to lodge a complaint is available under the General Information topic entitled 'Fundamentals of Insurance and Takaful'.
In addition, in the case of a non-muslim policy owner, a trust will be created in favour of the nominee under the following circumstances:
Introduction This is an introductory guide to help you understand the importance of making a nomination in your life insurance policy to safeguard the interest of your loved ones. It gives you some basic
More informationMEDICAL HEALTH TAKAFUL CLAIMS
Medical Health Takaful Claims 207 CHAPTER A13 MEDICAL HEALTH TAKAFUL CLAIMS OVERVIEW Chapter A13 will deal with the issues concerning Medical and Health Takaful claims: Notification of Loss Proof of Loss/Claim
More information1. I have submitted my claims, but until now I have not received my money? Why?
Frequently Asked Questions (FAQ S) For a list Other FAQ s, click here Claims No. List of FAQ s on Claims 1. I have submitted my claims, but until now I have not received my money? Why? Everyday, insurers
More informationChapter 6: Annuities
Chapter 6 Annuities Chapter Objectives Students must be able to: Define What is an Annuity Explain the General Nature of Annuity and its Difference with Life Insurance Understand the Use of Annuities in
More informationTAKAFUL INDUSTRY S CUSTOMER SERVICE CHARTER
TAKAFUL INDUSTRY S CUSTOMER SERVICE CHARTER r 1 P a g e 1. PILLAR 1: TAKAFUL MADE ACCESSIBLE Description Offer an active engagement model wherein a customer is aware of: Multi-channel options & accessibility
More informationYOUR GUIDE ON THE ROLE OF A FINANCIAL ADVISER & ISLAMIC FINANCIAL ADVISER
YOUR GUIDE ON THE ROLE OF A FINANCIAL ADVISER & ISLAMIC FINANCIAL ADVISER A consumer education programme by; Supported by; Contents 3 What You Need To Know 4 5 Who Is A Financial Adviser? Who Is A Financial
More informationMeasuring Financial Inclusion in Malaysia: Unlocking Shared Benefits For All Through Inclusive Finance
Measuring Financial Inclusion in Malaysia: Unlocking Shared Benefits For All Through Inclusive Finance Zarina Abd Rahman Bank Negara Malaysia, Kuala Lumpur, Malaysia zar@bnm.gov.my 1. Introduction Promoting
More informationRBC Guaranteed Lifetime Withdrawal Benefit Rider
Annuities RBC Guaranteed Lifetime Withdrawal Benefit Rider Issued by Liberty Life Insurance Company S7434 (R10-09) NOT A BANK OR CREDIT UNION DEPOSIT OR OBLIGATION NOT FDIC OR NCUA INSURED NOT INSURED
More informationAnnuities. Understanding. ABC Company 123 Main Street Anywhere, USA
Understanding Annuities Your promotional imprint here and/or back cover. ABC Company 123 Main Street Anywhere, USA 12345 www.sampleabccompany.com 800.123.4567 It may bring you peace of mind to have a regular
More informationThe above deliverables are achieved in accordance to our business values principles set out below:-
Introduction At HSBC Amanah Takaful, we are committed to provide services in a professional, efficient, innovative and ethical manner to existing and potential customers by- Responding to all customer
More informationINSURANCE/TAKAFUL INDUSTRY S CUSTOMER SERVICE CHARTER
INSURANCE/TAKAFUL INDUSTRY S CUSTOMER SERVICE CHARTER Pillar 1 Description Expected Outcome Service Level Target INSURANCE / TAKAFUL MADE ACCESSIBLE Offer an active engagement model wherein a customer
More informationPRODUCT DISCLOSURE SHEET (PDS)
PRODUCT DISCLOSURE SHEET (PDS) (Read this Product Disclosure Sheet before you decide to take up PB Retail Negotiable Instruments of Deposit (R-NID). Be sure to also read the general terms and conditions)
More informationEstate Planning Superannuation death benefits
Estate Planning Superannuation death benefits Nominating a beneficiary to receive your superannuation benefits upon your death gives you peace of mind knowing that the funds will be paid according to your
More informationCHAPTER 10 ANNUITIES
CHAPTER 10 ANNUITIES Annuities are contracts sold by life insurance companies that pay monthly, quarterly, semiannual, or annual income benefits for the life of a person (the annuitant), for the lives
More informationLook forward to the rest of your life. HSBC Takaful Retirement Plan
Look forward to the rest of your life HSBC Takaful Retirement Plan Fast Facts Longevity Today s generation is living longer and leads a healthier lifestyle which increases the average length of retirement.
More informationTable of Contents I. Annuities 2 A. Who... 2 B. What... 2 C. Where... 2 D. When... 3 Annuity Phases... 3 a) Immediate Annuity...
Table of Contents I. Annuities 2 A. Who... 2 B. What... 2 C. Where... 2 D. When... 3 Annuity Phases... 3 a) Immediate Annuity... 3 b) Deferred Annuity... 3 E. Why... 4 F. How do I put my money in?... 4
More informationPENSION PLAN BASICS. Summary of The Canadian Christian School Pension Plan and Trust Fund. FSCO and CRA Registration No
PENSION PLAN BASICS Summary of The Canadian Christian School Pension Plan and Trust Fund FSCO and CRA Registration No. 0283812 Table of Contents The Plan... 4 How It Works... 6 Benefits... 7 Procedures...
More informationImportant document please read. Self Invested Personal Pension Plan
Important document please read Self Invested Personal Pension Plan Key Features of the Self Invested Personal Pension Plan The Financial Services Authority is the independent financial services regulator.
More informationSession 1: Challenges & Opportunities: Emerging Frameworks for Financial Consumer Protection & Education in Asia Malaysia s Experience
Session 1: Challenges & Opportunities: Emerging Frameworks for Financial Consumer Protection & Education in Asia Malaysia s Experience Arlina Ariff Director, LINK & Regional Offices Department Bank Negara
More informationFIXED INCOME ANNUITY QUESTIONS & ANSWERS
Metropolitan Life Insurance Company FIXED INCOME ANNUITY QUESTIONS & ANSWERS Important Information about Fixed Income Annuities for FRS Investment Plan Participants This information will help you decide
More informationINTRODUCING THE SANLAM LIFE ANNUITIES
LIFE ANNUITIES Our guaranteed life annuities give your clients the certainty of a lifelong retirement income, and the opportunity to provide for their loved ones after their death. LIFE ANNUITIES BY INTRODUCING
More informationElevator Constructors Union Local No. 1 Annuity & 401(k) Fund 140 Sylvan Avenue, Suite 303, Englewood Cliffs, NJ (201) (855)
Elevator Constructors Union Local No. 1 Annuity & 401(k) Fund 140 Sylvan Avenue, Suite 303, Englewood Cliffs, NJ 07632 (201) 592-6800 (855) 521-6111 DESCRIPTION OF DISTRIBUTION OPTIONS FOR INDIVIDUAL ANNUITY
More informationDeath, Divorce, and Taxes. Presented by Shannon Lucero, Regional Representative
Death, Divorce, and Taxes Presented by Shannon Lucero, Regional Representative Death Benefits Not Vested Member Vested Member Retiree Supplemental Death Benefit 2 Who Are You Helping? Active Member Putting
More informationEXPLANATION OF QUALIFIED JOINT AND SURVIVOR ANNUITY Page 1 of 6
EXPLANATION OF QUALIFIED JOINT AND SURVIVOR ANNUITY Page 1 of 6 This notice is designed to provide you and your spouse (if you re married) information regarding the available standard forms of payment
More informationINSURANCE/TAKAFUL INDUSTRY S CUSTOMER SERVICE CHARTER
INSURANCE/TAKAFUL INDUSTRY S CUSTOMER SERVICE CHARTER Pillar 3 Description TIMELY, TRANSPARENT & EFFICIENT SERVICE Deliver a seamless service wherein customers are aware of: Insurers / Takaful operators
More informationCreating a Supplemental Future Income Stream With Life Insurance
Creating a Supplemental Future Income Stream With Life Insurance A Supplemental Illustration Prepared for Valued Client Presented by Premier Producer Premier Brokerage 1 Sales Drive Anytown, USA 98765
More informationIntroduction 3. Avenues to voice your dissatisfaction. Service level commitment. How to voice your dissatisfaction effectively
CONTENTS Introduction 3 Avenues to voice your dissatisfaction 3 Service level commitment 4 How to voice your dissatisfaction effectively 5 How to provide us feedback on our complaint handling 5 Frequently
More informationauthorised under the Malaysian Insurance Act to carry out all insurance business
International comparison of insurance taxation Malaysia General insurance overview Definition Definition of property and casualty insurance company Commercial accounts/ tax and regulatory returns Basis
More informationProvider Single Premium Immediate Annuity
Provider Single Premium Immediate Annuity Type Issue Ages Free Look Minimum/Maximum Contributions Income Options Single Premium Immediate Annuity (Product features may vary by state.) 0-95 Qualified and
More informationGuaranteed income for life
Guaranteed income for life Challenger Guaranteed Annuity (Liquid Lifetime) Retirement is a life-changing event. As you adjust to your new lifestyle, you ll also need to think differently about your finances.
More informationENDOWMENT TERMS AND CONDITIONS EFFECTIVE 7 NOVEMBER 2017 VERSION 15
ENDOWMENT TERMS AND CONDITIONS EFFECTIVE 7 NOVEMBER 2017 VERSION 15 Allan Gray Endowment terms and conditions Policy Document This document, together with your Policy Summary is your Policy Document. It
More informationA promise of compensation for specific potential future losses in exchange for a periodic payment. Insurance is designed to protect the financial
INSURANCE OMBUDSMAN A promise of compensation for specific potential future losses in exchange for a periodic payment. Insurance is designed to protect the financial well-being of an individual, company
More information12/ A. Titling Options for Your Nonqualified Deferred Annuity Contract
12/15 23236-15A Titling Options for Your Nonqualified Deferred Annuity Contract Planning for Retirement Whether you re approaching retirement or already retired, this is the time when your financial focus
More informationAccumulating Funds in an Annuity: A Deferred Fixed Interest and Indexed Annuity Review
Accumulating Funds in an Annuity: A Deferred Fixed Interest and Indexed Annuity Review Did you know that an annuity can be used to systematically accumulate money for retirement purposes, as well as to
More informationPrivate Client. A Guide to Occupational and Personal Pensions
Private Client A Guide to Occupational and Personal Pensions Date: Tue 01 Oct 2002 A Guide to Occupational and Personal Pensions Published: Tue 01 Oct 2002 Unless you make provisions for your retirement,
More informationCode for Underwriting Agents: UK Personal Lines Claims & Complaints Handling
Code for Underwriting Agents: UK Personal Lines Claims & Complaints Handling OCTOBER 2015 2 INTRODUCTION Lloyd s seeks to ensure that policyholders are treated fairly and can have confidence that their
More informationLet your retirement be the start of new adventures. HSBC Takaful Retirement Plan
Let your retirement be the start of new adventures HSBC Takaful Retirement Plan Fast Facts Longevity Today s generation is living longer and leads a healthier lifestyle which increases the average length
More informationSPIA. Consider securing a steady, lifetime income. A SPIA can help provide a dependable, guaranteed stream of income for a lifetime.
SINGLE PREMIUM IMMEDIATE ANNUITY (SPIA) SPIA A SPIA can help provide a dependable, guaranteed stream of income for a lifetime. Consider securing a steady, lifetime income A SPIA, a single premium immediate
More informationSEC. Variable Annuities. What You Should Know... United States Securities and Exchange Commission
SEC Variable Annuities What You Should Know... United States Securities and Exchange Commission Variable Annuities What You Should Know... V ariable annuities have become a part of the retirement and investment
More informationWe offer a variety of general insurance services worldwide including foreign workers bond, trade credit insurance and loss prevention.
CUSTOMER SERVICE CHARTER (CSC) INTRODUCTION At AIG, we strive to be our customer' most valued insurer by reducing fear of the future and empowering our customer through our risk expertise and financial
More informationTailored Income Annuity
Tailored Income Annuity Retirement Income To Suit Your Needs Standard Insurance Company Tailored Income Annuity An Income Guaranteed The Tailored Income Annuity is designed precisely to insure against
More informationBEFORE YOU COMMIT YOUR HARD-EARNED MONEY AN IMMEDIATE ANNUITY PLAN UIN: 111N083V04
AN IMMEDIATE ANNUITY PLAN UIN: 111N083V04 BEFORE YOU COMMIT YOUR HARD-EARNED MONEY» Analyse your Insurance, Investment & Retirement needs» Understand the product in detail» Know your Annuity Option and
More informationBuild Your Income And Leave A Legacy With The IncomeSustainer Plus
Build Your Income And Leave A Legacy With The IncomeSustainer Plus Issued by Great American Life Insurance Company IncomeSustainer Plus An optional rider from Great American Life Insurance Company When
More informationMaximizing Your Pension Income
Maximizing Your Pension Income These materials are not intended to be used to avoid tax penalties and were prepared to support the promotion or marketing of the matter addressed in this document. Neither
More informationAdditional information guide (1 September 2017) Challenger Guaranteed Annuity (Liquid Lifetime)
Additional information guide (1 September 2017) Challenger Guaranteed Annuity Table of contents How the Annuity is taxed 1 Senior Australians and Pensioners Tax Offset 2 Social security 3 Maximum periods
More informationTable of Contents I. Life Insurance Basics 3 A. Insurable Interest... 3 B. Personal Uses of Life Insurance... 3 Survivor Protection... 3 Liquidity...
Table of Contents I. Life Insurance Basics 3 A. Insurable Interest... 3 B. Personal Uses of Life Insurance... 3 Survivor Protection... 3 Liquidity... 3 C. Determining Amount of Personal Life Insurance...
More informationMAKE A ONE TIME INVESTMENT FOR LIFETIME REGULAR INCOME
MAKE A ONE TIME INVESTMENT FOR LIFETIME REGULAR INCOME Non Linked Non Participating Annuity Plan 5 Smart Reasons to Buy: Guaranteed # lifetime income Family gets the safety net in case of unfortunate demise
More informationStructured Attorney s Fees
STRUCTURED SETTLEMENTS Structured Attorney s Fees Preparing for Your Financial Future 11/16 26169-16A Why Pacific Life It s essential for you to choose a strong and stable company that can help you achieve
More informationMarket Conduct Regulation & Supervision: The Malaysia s Experience
Market Conduct Regulation & Supervision: The Malaysia s Experience by Suhaimi Ali Director, Consumer and Market Conduct Department Bank Negara Malaysia (Central Bank of Malaysia) International Seminar
More informationPRODUCT DISCLOSURE SHEET
PRODUCT DISCLOSURE SHEET (Read this Product Disclosure Sheet before you decide to take up the Term Financing-i (Tawarruq). Be sure to also read the general terms and conditions. Seek clarification from
More informationClaims Practice. Handling and Settlement
Claims Practice Handling and Settlement Topic Objectives Contents 6. Handling Personal Lines Claims Explain the impact of regulatory requirements on handling personal lines claims Explain the typical personal
More informationUnderstanding fixed annuities
Allianz Life Insurance Company of North America Understanding fixed annuities Protection for your retirement money M-5210 Page 1 of 12 Page 2 of 12 It s time to rethink retirement. In recent years, the
More informationFinancial Services Guide
Magic Millions Insurance Brokers Pty Ltd ABN 12 107 459 290 / AFS Licence No. 305 391 PO Box 1329, NORTH SYDNEY NSW 2059 Tel (02) 8913 1650 Fax (02) 8569 2065 Website: www.magicmillionsinsurance.com Email:
More informationIslamic Banking, Takaful and Al Rahnu LCA4562 DR. ZULKIFLI HASAN
Islamic Banking, Takaful and Al Rahnu LCA4562 DR. ZULKIFLI HASAN Contents Legal requirements Takaful products Legal and syariah issues Legal Position S 4 of the TA- takaful operators only 1. Company 2.
More informationAnnuity Buyer s Guide
Annuity Buyer s Guide Published by the Kentucky Office of Insurance Introduction The Kentucky Department of Insurance is pleased to offer this Annuity Buyer s Guide as an aid to assist you in determining
More informationSupplementing Retirement Income with Life Insurance
Supplementing Retirement Income with Life Insurance CLIENT SNAPSHOT INDIVIDUAL NEEDS Protection for today, income for tomorrow Protecting your family and planning for a long retirement are likely to top
More informationBharti AXA Life Insurance Co. Ltd. Citizens Charter Jan 2014
Bharti AXA Life Insurance Co. Ltd. Citizens Charter Jan 2014 A customer is the most important visitor on our premises. He is not dependent on us. We are dependent on him. He is not an interruption in our
More information69J Mediation of Residential Property Insurance Claims. (1) Purpose and Scope. This rule implements Section , F.S.
69J-166.031 Mediation of Residential Property Insurance Claims. (1) Purpose and Scope. This rule implements Section 627.7015, F.S. The program established under this rule is prompted by the critical need
More informationPetition and Order Requirements
Petition and Order Requirements General Requirements All documents must be filed simultaneously. The claimant s informational letter must be webfiled under Petition and Order Informational Letter (sealed).
More informationCENCO STREET JOURNAL. May is Disability Insurance Awareness Month. Sales Idea of the Month. Check Out The Cenco Website:
A Special Publication for CENCO Related Agents CENCO STREET JOURNAL Volume 16, Issue 5 May 2016 Check Out The Cenco Website: www.cencoinsurance.com You will have access to: Quotes Forms Introduc on Kits
More informationBRIEF INFORMATION ON THE PRODUCT PRODUCT SUITABILITY
IMPORTANT/DISCLAIMER THIS IS AN INVESTMENT ACCOUNT PRODUCT THAT IS TIED TO THE PERFORMANCE OF THE UNDERLYING ASSETS, AND IS NOT A DEPOSIT PRODUCT. THIS PRODUCT IS NOT COVERED BY THE MALAYSIA DEPOSIT INSURANCE
More informationAn Introduction to Indexed Annuities
An Introduction to Indexed Annuities Grow and Protect Your Assets Indexed annuities are a special type of fixed annuity that offers market-linked growth with little to no downside risk. While they typically
More informationMacalester College 403(b) Retirement Plan. Summary
Macalester College 403(b) Retirement Plan Summary SUMMARY PLAN DESCRIPTION HIGHLIGHTS Eligibility Requirements You must be an Eligible Employee To receive Employer Contributions for a Plan Year, you must
More informationINDIVIDUAL TERM LIFE INSURANCE POLICY. Non-Participating SPECIMEN
Brighthouse Life Insurance Company of NY POLICY NUMBER: INSURED: JOHN MIDDLE DOE INDIVIDUAL TERM LIFE INSURANCE POLICY Non-Participating This is a yearly renewable term insurance policy that is automatically
More informationPrepared by the Compensation and Employee Benefits Division Office of Human Resources
Information About The «Pension Plan for Full-Time CUPE 2745 Employees of New Brunswick School Districts» Prepared by the Compensation and Employee Benefits Division Office of Human Resources Edition 3
More informationSigned for Pacific Life Insurance Company, President and Chief Executive Officer
Pacific Life Insurance Company 700 Newport Center Drive Newport Beach, CA 92660 READ YOUR POLICY CAREFULLY. This is a legal contract between you, the Owner, and us, Pacific Life Insurance Company, a stock
More informationThe Individual Annuity
The Individual Annuity a resource in your retirement an age of Decision Retirement today requires more planning than for previous generations. Americans are living longer many will live 20 to 30 years
More informationPacific Life Insurance Company 45 Enterprise Drive Aliso Viejo, CA 92656
Pacific Life Insurance Company 45 Enterprise Drive Aliso Viejo, CA 92656 READ YOUR POLICY CAREFULLY. This is a legal contract between you, the Owner, and us, Pacific Life Insurance Company, a stock insurance
More informationPRODUCT DISCLOSURE SHEET
Seek clarification from if 1. What is this product about? This is a Shariah-compliant property financing facility for the purchase of either completed or under construction property. This facility is secured
More informationA Guide to your Account-Based Pension
CITIBANK AUSTRALIA STAFF SUPERANNUATION FUND A Guide to your Account-Based Pension This Guide explains: Page no. Who can take out an Account-Based Pension in the Fund?... 1 How the Fund s Account-Based
More informationProcessing Status of Mediations, Complaints, and Consultations in FY 2009
Processing Status of Mediations, Complaints, and Consultations in 1. Status of Mediation, Complaint Handling, and Consultation (1) Overview Non-Profit Organization Financial Instruments Mediation Assistance
More informationTrustee training guide for one member plans
Trustee training guide for one member plans Contents Appropriate Trustee Training 2 Trusteeship 3 Investment 5 Member Communication 6 Administration 7 Compliance and Regulation 10 Trustee Declaration
More informationConsumer Guide on BORROWING
Consumer Guide on BORROWING At some stage in life, one has to borrow money from financial institutions. How do you prepare yourself for this? Let us explain how you can decide what financing product is
More informationYour gift should be one that keeps giving, from one generation to the next.
Your gift should be one that keeps giving, from one generation to the next. Live, laugh, love. Leave a legacy. - Stephen Covey A legacy of values and wealth should be long-lasting. Manulife Signature
More informationChallenger Guide to annuities
Challenger Guide to annuities Secure your future with a safe, reliable income stream Table of contents About Challenger 1 Introduction 2 Retirement is different 3 About annuities 4 What is an annuity?
More informationPension Design and Marketing. The Annuity Malaysia Experience By Zainal Abidin Mohd. Kassim, FIA
Pension Design and Marketing The Annuity Malaysia Experience By Zainal Abidin Mohd. Kassim, FIA The move from Defined Benefit Plan (DB) to Defined Contribution Plan (DC) has exacerbated the task of the
More informationTHE CURTIS BANKS SSAS
THE CURTIS BANKS SSAS Key Features curtisbanks.co.uk Contents Section Page Using this document 2 What is the SSAS? 2 Aims, Commitments and Risks 2 Questions and answers 3 1 Using this document What are
More informationTAKAFUL IKHLAS BERHAD (Registered under Islamic Financial Services Act 2013 and regulated by Bank Negara Malaysia) IKHLAS EDUCATION TAKAFUL PLUS
PRODUCT DISCLOSURE SHEET (Read this Product Disclosure Sheet before you decide to participate in the IKHLAS Education Takaful Plus. Be sure to also read the general terms and conditions). 1) What is this
More informationFINANCIAL SERVICES GUIDE. Version 17 25/09/2017 FSG V
FINANCIAL SERVICES GUIDE FSG V17 250917 FINANCIAL SERVICES GUIDE Version 17 25/09/2017 AFSL No. 244369 This guide is designed to assist you in deciding whether to use the services offered by us. It contains
More informationRETIREMENT INCOME STREAMS PRODUCT DISCLOSURE STATEMENT
IAG & NRMA S U P E R A N N U AT I O N P L A N RETIREMENT INCOME STREAMS PRODUCT DISCLOSURE STATEMENT Allocated Pensions Transition to Retirement Income Streams Issue No. 3 dated 15 September 2010 IAG &
More informationProvide for your loved ones. A guide to death benefits from your pension plan
Provide for your loved ones A guide to death benefits from your pension plan This guide covers the death benefits from the following plans: Self Invested Personal Pension Group Self Invested Personal Pension
More informationDeferred Income Annuity. American Pathway. Series of fixed annuities. A single premium fixed deferred income annuity
American Pathway Series of fixed annuities Deferred Income Annuity A single premium fixed deferred income annuity Annuities issued by American General Life Insurance Company (AGL) and The United States
More informationFlexi-Access Income Drawdown
Flexi-Access Income Drawdown The Flexible Alternative Route to Retirement Income How Income Drawdown works The advantages & Disadvantages Drawdown vs Annuities Investment Strategies Flexible Death Benefits
More informationThe remaining 2/3 of your assets will be distributed to your Faraid heir(s), in accordance to Faraid proportions.
PRODUCT DISCLOSURE SHEET (PDS) Islamic Will [Wasiat] Customers are advised to read this Product Disclosure Sheet before taking up the Online Wasiat Writing Services [Service]. Online Wasiat Writing Services
More informationProvide for your loved ones. A guide to death benefits from your pension plan
Provide for your loved ones A guide to death benefits from your pension plan This guide covers the death benefits from the following plans: Self Invested Personal Pension Group Self Invested Personal Pension
More informationPRODUCT DISCLOSURE SHEET
PRODUCT DISCLOSURE SHEET (Read this Product Disclosure Sheet before you decide to participate in the Agro Bestari-i. Be sure to also read the general terms and conditions). 1) What is this product about?
More informationChallenger Guide to annuities
Challenger Guide to annuities Secure your future with a safe, reliable income stream Table of contents About Challenger 1 Introduction to annuities 2 How does an annuity work? 3 Challenger annuities 4
More informationFinancial Services Guide
Financial Services Guide This guide is designed to assist you in deciding whether to use the services offered by us. It contains important information about: the services we can offer you how we and our
More informationRetirement Planning. A pathway to securing the lifestyle you desire PROTECTION. RETIREMENT. INVESTMENT. ESTATE.
Retirement Planning A pathway to securing the lifestyle you desire PROTECTION. RETIREMENT. INVESTMENT. ESTATE. The value of working with a Financial Advisor Collaborating with a Financial Advisor affiliated
More informationDate: A written undertaking by UOB at the request of the applicant (yourself), in favor of a third party (the beneficiary) guaranteeing payment.
PRODUCT DISCLOSURE SHEET (Read this Product Disclosure Sheet before you decide to take out the Bank Guarantee. Be sure to also read the terms in the letter of offer. Seek clarification from your institution
More informationLearn about distribution options for your employer retirement plan assets. Investor education
Learn about distribution options for your employer retirement plan assets Investor education It s your retirement: Choose wisely As you plan your retirement, you ll need to decide what to do with the
More informationFCA CONSULTATION PAPER CP14/11 RETIREMENT REFORMS AND THE GUIDANCE GUARANTEE
OUR RESPONSE TO: FCA CONSULTATION PAPER CP14/11 RETIREMENT REFORMS AND THE GUIDANCE GUARANTEE 22 September 2014 0 P A G E ROYAL Introduction The Royal London Group is pleased to respond to this consultation
More informationInsurance and Annuities
Presented for Valued Client Presented by John M. Webster HMS Insurance Associates, Inc. johnwebster@financialguide.com 443-632-3436 Page 1 of 8 The Annuity Concept An annuity contract specifies that the
More informationPRODUCT DISCLOSURE SHEET
PRODUCT DISCLOSURE SHEET (Read this Product Disclosure Sheet before you decide to take up the Business Term Financing-i (Tawarruq). Be sure to also read the general terms and conditions. Seek clarifications
More informationAnnuity Insurance. Earlylncome Annuity Plan. HSBC Life (International) Limited
Annuity Insurance Earlylncome Annuity Plan HSBC Life (International) Limited HSBC Life (International) Limited HSBC Life (International) Limited ( the Company ) is incorporated in Bermuda with limited
More informationContents Key features of the Pension Annuity 2
Pension Annuity Key features This brochure outlines the key features of our Pension Annuity. The Financial Conduct Authority is a financial services regulator. It requires us, Just, to give you this important
More informationAnnuity Insurance. Income Goal Insurance Plan. HSBC Life (International) Limited
Annuity Insurance Income Goal Insurance Plan HSBC Life (International) Limited HSBC Life (International) Limited HSBC Life (International) Limited ( the Company ) is incorporated in Bermuda with limited
More informationFuneral Benefit Summary Document Edcon Insurance Services (EIS)
Page 1 of 15 Funeral Benefit Summary Document Edcon Insurance Services (EIS) Policy Number: 02/HAD/EIS/EDG/8/2013 Page 2 of 15 Funeral Benefit offered by EIS to Edgars Classic Club members and their partners
More informationVersatile Portfolios Navigator Key Facts
information folder This information folder is not an insurance contract. Versatile Portfolios Navigator Individual Variable Insurance Contracts are issued by Co-operators Life Insurance Company. Versatile
More informationThe Individual Annuity
The Individual Annuity ARESOURCEINYOURRETIREMENT AN AGE OF DECISION Retirement today requires more planning than for previous generations. Americans are living longer many will live 20 to 30 years or more
More information