Segregated Funds with Income For Life
Many companies today offer an option on their Segregated Funds to add a Guaranteed Lifetime Withdrawal Benefit (GLWB) to their investments.
With the GLWB, you can carry out your retirement plans without worrying about unforeseen financial market events.
Guarantees will be in place that
protect your investment from market turndowns
the income base may increase every year you do not take a withdrawal
allow income benefits to increase with "resets"
provide a guaranteed and predictable income for life
give a prompt payout of your investment to your loved ones in the event of death
allow for creditor protection
There are a number of companies that offer this option, including:
Dejardins Financial Security
http://www.dsf-dfs.com/en-CA/Promotion/Helios/helios-advantages/Empire Life
http://www.empire.ca/consumer/en/investment/products/SegregatedFunds.htmlManulife Financial
http://www.manulife.ca/canada/Investments.nsf/Public/GIFSelect_homeSun Life Financial
http://www.ci.com/sunwiseeliteplus/index.jsp?lang=ENG
Before making this a part of your financial plan, you should consult your Certified Financial PLanner to determine if it may be a good choice for a part of your investment portfolio.