Guaranteed Annuity



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Guaranteed Annuities

One of the major drawbacks with the purchase of annuities is that if you fail to make specific provisions in your contract, the balance of your fund is lost when you die.

For a relatively small cost it is recommended that you incorporate a guaranteed minimum period of up to 5 or 10 years into your contract. If you were to die shortly after retirement, a guaranteed annuity will continue to pay for the remainder of the specified period to either your partner or your estate.

If you survive beyond the guaranteed period you continue to receive an income for the rest of your lifetime.

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