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Email this1:43 pm
January 12, 2019
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Fear Not My Friends ... All Is Not Lost❗
Apparently there's a New Type of annuity out now, called; 'Triple Reverse Annuity'. It's a new product put out by the Hades Insurance Company of 'Lower' Manhattan.
From what I understand, if you are a Hades T.R. Annuity holder in good standing, and pay all your premiums on time, when you die, you can; Take It All With You (certain limits apply).
Such a Deal, Eh‼
Selkirk 
" Live Long, Healthy ... And Prosper! "
5:05 pm
October 21, 2013
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That's a good one to keep in mind for when "hell freezes over".
9:18 pm
February 20, 2018
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Norman1 said
I doubt it.Current Canadian prime lending rate is 3.95%. A creditworthy insurance company can borrow from their bank for that rather than pay 5% (plus commissions to the selling agent) through a life annuity bundled with a life insurance policy.
At age 65, a male could have purchased a no-guaranteed-minimum life annuity in February from BMO Insurance of $543.05/month for $100,000. That's $6,516.60 per year for a payout rate of 6.516%.
A permanent $100,000 Term 100 life insurance policy from BMO Insurance for the non-smoking male costs around $3,400 per year or 3.4% per year. That's assuming BMO Insurance will agree to life insure the male.
The net is only 3.1% each year. On death, there would be $0 from the life annuity and $100,000 from the life insurance policy.
If the male were a smoker, the life insurance jumps to about $5,000 per year and the net would only be 1.5% per year.
How much invested till death? Return on investment when alive? How much get back after death the first one nothing? Second one 100k insurance but only 3.1% annual return like a gic so whats the point
Why not pay urself instead from the 100k a self-annuity
7:26 am
April 6, 2013
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One can't replicate a life annuity oneself.
One can't predict when one will die and what the GIC rates will be exactly until then. If one lives too long or GIC rates end up not as high as expected, then the money will run out first.
If one drew the 6.516% each year in the example and the GIC rates end up being 3%, then one better drop dead before 87 because that's when the $100,000 will be all gone. One will need at least 4.17% GIC rates to make the money last 25 years to age 90.
Same with the life insurance. If the 65 year old decided to bank the $3,400 life insurance premium each year instead, he could die before the $3,400 each year invested becomes $100,000.
9:42 am
January 12, 2019
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Loonie said
That's a good one to keep in mind for when "hell freezes over".
That's ⬆ why 'Taking It All With Me', would include a pair of ice skates.
Selkirk (a.k.a. Dean)
" Live Long, Healthy ... And Prosper! "
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