Joint Life Annuity

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• Your surviving spouse (if they are joint annuitant and joint owner with you) will continue to receive a monthly income for the rest of their life as outlined in the annuity contract.

• A new passive income source.  Use the guaranteed monthly income payment to fund your retirement lifestyle or fund a major expense like a mortgage or assisted living expenses.

• Your joint life annuity payments will continue for the lives of both annuitants and never decrease because of fluctuations in interest rates or the stock market.

• Your joint life annuity payments provide stability to your monthly cashflow and enhance your income security, which gives you the confidence to splurge from time to time, instead of denying yourself because you are worried about interest rates or the stock market.
  
• The guaranteed income payments from single life annuities positively affect your ability to qualify for credit with favorable terms should this be needed.

• With a joint life annuity, you can create your Custom Couples Pension Plan with an income bridge for early retirement.

• Joint life annuities simplify your financial life because all the hard work and decisions take place at the time of purchase.  This means that there are no complicated investment decisions to make in the future.

• If you are one of the two the annuitants and also joint owner of a joint life annuity, you will never outlive your money.  We define this benefit as having Income Security.

• Upon the final surviving annuitant’s passing, the contract ends and any contractual cash refund or remaining guaranteed future payments are paid out to the named beneficiaries based on the original terms outlined in the annuity contract.

• No MER’s (Management Expense Ratio), ongoing fees or additional cost.

Annuitant based factors:

• Both annuitant’s age in years and months.  The older you are, the higher your payment. (This is why your exact date of birth is needed to obtain your quotes.)

• Both annuitant’s gender assigned at birth. (Because this influences life expectancy.)

• The early death estate value guarantee that is selected.  
  (The higher the proportion of your initial deposit you want to guarantee, the lower your payout rate will be.)

• Additional features such as indexing or inflation protection, income deferral (up to 10years is possible), the purchase date and the income start date.

Some of the factors the Life Insurance Company takes into consideration when determing their payout include:

• The insurance company’s current capital needs to meet business objectives and fund their operations.

• The insurance company’s mortality experience and expense.

• The insurance company’s short- and medium-term plans for expansion or mergers & acquisition.

• The current long-term interest rate for bonds. (Long-term bonds have maturities of 10-years or more.)

• The economic outlook and opportunities on the horizon.

The retirees decide how much capital they want to commit to their annuity.

The insurance company calculates the monthly annuity income payment they are willing to pay the Annuity owner based on the initial deposit amount, the age, gender, and terms of the early death estate value guarantees and provides a quote.  

Annuity payout rates fluctuate daily and may vary quite a bit from insurance company to insurance company.  This is because each insurance company has different business objectives and capital needs that drive what they are willing to payout to win your business.

Next, your independent Qualified Annuity Expert will “price check” the current annuity payment environment by conducting a market survey. This is a special report outlining what all insurance companies in the Annuity market are willing to pay you given your preferred terms and summarize it in a Market Summary Report.

Once the report is ready, you  will meet with your independent Qualified Annuity Expert, who will walk you through all your options and share any additional information that is relevant to your situation like the best times of the year to purchase your Annuity and how to lock in your rate, so you won’t be disappointed once the wheels are in motion.

Once your Annuity is issued, you will receive your first monthly payment according to the termsof the contract. 

These payments will continue as scheduled, every month until the final surviving annuitant dies.  The annuitants are the people whose lives the payment depends upon and does not necessarioly have to be the annuity owner.  However most joint life annuity contracts have the same joint owners and joint annuitants.

Upon the final surviving annuitant’s death, the payments will stop, and your beneficiaries would receive their benefit in a lump sum as outlined in the estate value guarantee provisions of your original annuity contract.  

It is important to point out that in situations where the early death estate value guarantee has been fully paid out prior to the death of the annuitant, there will nothing left to payout to the beneficiaries.   

Your Qualified Annuity Expert will explain how this would work and at what age this would come into effect based on your situation and will put it in writing.