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Our financial and insurance specialists provide advice on the structure of many types of Income For Life plans known as Guaranteed Minimum Withdrawal Benefit Plans. In fact, our specialists have facilitated at numerous financial planning, estate planning and tax planning events across the province specifically on these types of complex, yet highly popular investment and insurance products.
Since October 2006, over $10 billion dollars has been invested into these types of plans.
Guaranteed Minimum Withdrawal Benefit plans provide investors with either registered or non-registered funds with a wide variety of benefits including in some cases the full protection of principal at maturity and a fully guaranteed death benefit which in some cases can increase on an annual basis. As well, investors can receive annual income bonuses in years where no withdrawals are made from the investments. Investors have the ability to select amongst a wide selection of mutual funds or segregated funds within the plans, and furthermore have the ability to lock-in gains in some cases automatically every three years.
Whether you need income now, or at a later point in life, these types of investments provide many benefits to individuals. Plans are available for both registered and non-registered plans and are most suitable for conservative investors who are over 50 years of age.
Contact us to obtain additional information of guaranteed minimum withdrawal benefit plans or if you wish to set up a no obligation confidential meeting.
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