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Insured AnnuitiesCanadian Dentists' Investment Program participants who want increased cash flow in retirement while retaining capital for their heirs can now access a valuable new tool — an insured annuity. Insured annuities provide higher monthly cash flow than would be possible through interest-only investments (such as GICs) — without reducing the value of your estate. It’s an attractive option for those over age 60 who are in good health. How an Insured Annuity Works:You purchase a prescribed life annuity (which provides a series of payments guaranteed for life) and then buy a life insurance policy with a face value (insurance benefit) equal to the amount of the annuity principal. The annuity payments you receive will pay the insurance premiums and also provide you with income. With an insured annuity you’ll pay less tax compared to interest income received from a GIC. That’s because the income from the annuity will be comprised of a combination of the return on capital and interest, and the taxable amount of interest will be averaged over the life of the annuity. Your annuity income payments are guaranteed for life and the insurance benefit can be left to your heirs tax-free. To learn more about the insured annuity offered through the Canadian Dentists' Investment Program, speak to a certified financial planner at CDSPI’s affiliate company, CDSPI Advisory Services Inc. at 1-877-293-9455 or (416) 296-9455, extension 5023.
CDSPI | Insurance | Investment | Affinity Services | New Dentists/Students | Dental Staff
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