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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.

Key benefits of an 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.

 

See PDS for more details

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 annuities

If you invest in a Lifetime Income – immediate annuity:

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

If you invest in a Lifetime Income – deferred annuity:

  • You start receiving regular payments from the end of the deferred period for the rest of your life.
  • The Guaranteed Period is set to your life expectancy, rounded down to the nearest whole year during which the Death Benefit Guarantee and Withdrawal Benefit Guarantee apply.

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

Who is this suitable for?

How to invest

STEP 1

Read this PDS

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

DOWNLOAD PDS


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 9am and 5pm (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 9am and 5pm (AEST/AEDT), Monday to Friday, excluding public holidays.

Forms and documents

Awards

Our Lifestream Guaranteed Income annuity has won the following awards:

  • 2022 Plan for Life Deferred Lifetime Guaranteed Income
  • 2022 Plan for Life Tools & Calculators
  • 2021 Association of Financial Advisers (AFA) Short Term Income Stream Award
  • 2021 AFA Annuity Innovation Award
  • 2021 and 2020 Plan for Life Longevity Product - Term & RCV Award
  • 2020 AFA Short Term Income Stream Award
  • 2019 Plan for Life Longevity Product – Multiple Annuity Portfolio Award

Important information

Any advice and information on this website is general in nature and is provided by Resolution Life Australasia Limited ABN 84 079 300 379, AFSL No. 233671 (Resolution Life), which is part of the Resolution Life Group. Resolution Life can be contacted via the Contact us page. The advice does not take into account your personal objectives, financial situation or needs. Therefore, before acting on the advice, you should consider the appropriateness of the advice, having regard to those matters as well as the relevant Product Disclosure Statement (PDS) or Policy Document, available here or via the Contact us page. Before making a decision about the product, consider speaking to a financial adviser if you have any concerns.

If you decide to purchase or vary a financial product, Resolution Life and/or other companies within the Resolution Life Group will receive fees and other benefits, which will be a dollar amount or a percentage of either the premium they pay or the value of their investments. You can ask us for more details.

These products are not issued by the AIA Group. The AIA Group has sold to the Resolution Life Group that part of the business that previously provided or administered these products. The Resolution Life Group and its products and services are not affiliated with, or guaranteed by, the AIA Group. The Resolution Life Group uses AIA's trademarks under licence.