Individuals

Guaranteed Annuities Lifestream Guaranteed Income

WHAT IS AN ANNUITY?

An annuity is a low-risk investment product that guarantees a regular income, either for a fixed term or for life.

In general, guaranteed annuities aren’t affected by share market movements or interest rate fluctuations, so you can rely on a consistent source of income.

By diversifying your retirement income streams and including an annuity, not only are you less exposed to risk, but there may be tax and social security benefits of using a combination of guaranteed annuities, account based income streams and other income streams.

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KEY BENEFITS OF AIA ANNUITY

The ability to lock in a guaranteed return and the comfort of knowing your investment and income are secure no matter how the share market performs.
The option to receive your income for a fixed term or for the rest of your life as monthly, quarterly, half-yearly or yearly payments.
Tax-free regular payments for people over 60 who invest with money from their super (see PDS for full details).

Tax offsets for some people aged between preservation age and 60 who invest with money from their super.
At the end of the investment term you can access some or all of your initial capital investment.

TYPES OF LIFESTREAM GUARANTEED INCOME ANNUITIES

FIXED TERM ANNUITIES

Choose a fixed term from one to 30 years
Choose between zero and 100 per cent of your purchase price to be returned to you as a lump sum when the policy matures

LIFETIME INCOME

Start receiving regular payments during your first policy year
Receive regular payments for the rest of your life
You can select a Guaranteed Period during which the Death Benefit Guarantee and Withdrawal Benefit Guarantee apply.

DEATH BENEFIT GUARANTEE

The Death Benefit Guarantee ensures that if an investor dies after starting their annuity, but before the end of their nominated Guaranteed Death Benefit Period, a lump sum amount may be payable to their estate or beneficiaries.
Withdrawal Benefit Guarantee

The Withdrawal Benefit Guarantee ensures that an investor receives a minimum lump sum amount, if they elect to make a full withdrawal during the Guaranteed Period.

The Death Benefit Guarantee and Withdrawal Benefit Guarantee end either at life expectancy or at the end of the Guaranteed Death Benefit Period you choose when setting up your annuity.

*Terms and conditions apply. Refer to the PDS for more details.

Who is this suitable for?

Anyone looking for secure income
Annuities offers a guaranteed regular income for a fixed term, with all or part of your purchase price returned to you at the end of the term, or lifetime from a date you select for the rest of your life.

Retirees
When purchased with super money, our Lifestream Guaranteed Income annuities offers a guaranteed income with tax benefits for individuals or couples of preservation age.

People transferring wealth
Annuities offer a secure wealth transfer for individuals who want to provide for their beneficiaries.

Corporations, trusts and funds
From large corporates to family trusts, organisations large and small can also benefit from the security of an annuity and as a way of diversifying their income streams.

AIA Australia has prepared a Target Market Determination which describes the class of consumers that comprise the target market for this product. The Target Market Determination can be sourced at aia.com.au/tmds.

How to invest

STEP 1: READ THIS PDS

We recommend that you read this PDS carefully before investing in an annuity.

STEP 2: GET A QUOTE

A quote will outline what your regular payments will be. To get a quote you can:
Contact your financial adviser, or
Call us on 1800 624 100 between 8:30am–6pm (AEST/AEDT), Monday to Friday, excluding public holidays.

STEP 3: SEND US YOUR QUOTE AND COMPLETED APPLICATION FORM/S

To apply for a guaranteed annuity, you need to provide:

a completed and signed application form
a valid quote (valid for 14 days)
identification and verification documents
the investment amount via cheque, direct deposit or super rollover

The effective date of your annuity is the date all application requirements, including your investment, are received and accepted by us.

FOR MORE INFORMATION

Contact your financial adviser, or call us on 1800 624 100 between 8:30am and 6pm (AEST/AEDT), Monday or Friday, excluding public holidays.

Forms and Documents

Important forms

Identification and verification forms

Awards

Our Guaranteed Annuities Lifestream Guaranteed Income has won the following awards;

2020 Association of Financial Advisers (AFA) Short Term Income Stream Award
2020 Plan for Life Longevity Product - Term & RCV Award
2019 Plan for Life Longevity Product – Multiple Annuity Portfolio Award
2017 AFA Annuity & Income Stream Innovation Award

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