Best living annuity

Have you considered a life annuity? Some good options out there. Not just for older folk, you can be as young as 40 to get income for the rest of your life.
 
JR Mido said:
Have you considered a life annuity? Some good options out there. Not just for older folk, you can be as young as 40 to get income for the rest of your life.
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I haven't as yet. How would it compare to a living annuity?
 
Speedster said:
I haven't as yet. How would it compare to a living annuity?
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A life annuity is an insurance product (as opposed to an investment product). You get a quote from a life insurance company, and trade your savings/purchase amount for regular monthly income payments for the rest of your life. It's a good option if you're worried about investment markets.

You can also transfer from a living annuity to a life annuity.

There are also new options that actually combine a living annuity and life annuity in one. Sygnia offer this - it's called a blended annuity.
 
JR Mido said:
A life annuity is an insurance product (as opposed to an investment product). You get a quote from a life insurance company, and trade your savings/purchase amount for regular monthly income payments for the rest of your life. It's a good option if you're worried about investment markets.

You can also transfer from a living annuity to a life annuity.

There are also new options that actually combine a living annuity and life annuity in one. Sygnia offer this - it's called a blended annuity.
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I've always figured that life annuities are more suited to people who either have insufficient retirement funds or are financially undisciplined.
 
I’ve gone back to 10X for different products and referred people there time and time again because of excellent customer support, while also performing well and being quite low on fees at the same time.

Haven’t personally used them for a Living Annuity yet, but I would when the time comes.

Historically I’ve found Allen Gray to drag their heels on customer support and responsiveness and Sygnia while not terrible was still outclassed my 10X.
 
backstreetboy said:
The paid for 10X adverts on Businesstech has put me off them actually. Wouldn't touch them with a 10 foot barge pole.
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As if you were ever going to touch them before Sygnia-boy.

Are companies not allowed to advertise now?
 
SauRoNZA said:
I’ve gone back to 10X for different products and referred people there time and time again because of excellent customer support, while also performing well and being quite low on fees at the same time.

Haven’t personally used them for a Living Annuity yet, but I would when the time comes.

Historically I’ve found Allen Gray to drag their heels on customer support and responsiveness and Sygnia while not terrible was still outclassed my 10X.
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What I am liking about Sygnia is the broad range of fund options. 10x seems more limited?

Now to figure out how to tell the Glacier guys to pay my portion of the the benefit to the Sygnia peeps.
 
Speedster said:
What I am liking about Sygnia is the broad range of fund options. 10x seems more limited?

Now to figure out how to tell the Glacier guys to pay my portion of the the benefit to the Sygnia peeps.
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Yeah 10X only offers a handful at various risk appetites but that’s actually why I gravitate towards them.

They are more focused, whereas Sygnia has too many options and having that choice leads to wanting to change things all the time which is a terrible idea.

I want to set and forget with this stuff.
 
W@P said:
I was a beneficiary of my late mother's life insurance recently. I had the same option of a heavily taxed lump sum or tax-free into a living annuity.

I chose to take x amount in cash with minimal tax implications and the rest to a living annuity to pay an x amount directly into my RA. So I don't see any of the balance that remained. It goes straight to my RA.

Living annuity was taken out with Ninety-one through my broker at PSG.

I found this in my policy docs.

View attachment 1370163

View attachment 1370165
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Sygnia EAC is 0.54%.
 
ch@rge said:
Perhaps have a look at EasyEquities if range of funds is what you're looking for.
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I can't see that they have a living annuity on their site. I've contacted their support a couple of days ago, but no answer as yet
 
Speedster said:
I can't see that they have a living annuity on their site. I've contacted their support a couple of days ago, but no answer as yet
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I moved my Dad's Living Annuity to them - it's not listed on their offerings, but they have LA accounts if requested.
 
BuckRogers said:
I've always figured that life annuities are more suited to people who either have insufficient retirement funds or are financially undisciplined.
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Ja that's been the thinking but more people seem to be taking an interest because life annuities offer certainty of an income until you pass away. Especially when markets have been all over the place since Covid. In a living annuity, money can run out if you don't plan well or live longer than expected. At the end of the day it's what works best for you
 
JR Mido said:
Ja that's been the thinking but more people seem to be taking an interest because life annuities offer certainty of an income until you pass away. Especially when markets have been all over the place since Covid. In a living annuity, money can run out if you don't plan well or live longer than expected. At the end of the day it's what works best for you
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People must just realize that the longevity risk remains if the LA escalation is not correctly set up. Even a fixed 5% can fall behind inflation, and the CPI option has a lower initial payout, so you are dammed if you do and dammed if you dont.
 
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