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.

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 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.

DEATH BENEFIT GUARANTEE

The Death Benefit Guarantee ensures that if the Policy Owner dies after starting their annuity but before the end of Guaranteed Period, a lump sum amount will be payable to their estate or Reversionary Beneficiary.
Withdrawal Benefit Guarantee

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

*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 Lifestream Guaranteed Income annuity has won the following awards:

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
2017 AFA Annuity & Income Stream Innovation Award

Health Insurance

Member Benefits

Member Login

Get a quote

Make a claim

Life Insurance

Life Cover

Total and Permanent Disablement

Crisis Recovery

Income Protection Core

Business Expenses

Make a claim

Medix

Retirement & Investment

Guaranteed Annuities

Investment Growth Bond

Unit Prices

AIA Vitality

Partners and Rewards

Already a member? Login

Content Hub

Move Well

Plan Well

Eat Well

Think Well

Help & Support

Making a Claim

Forms & Documents

Policyholder Information

Complaints process

Contact AIA

Customer feedback

COVID-19

Call Us

Find an adviser