What is an annuity?
An annuity is an insurance arrangement that converts a purchase price or accumulated retirement corpus into a defined stream of income, subject to the selected option and insurer terms. Income may begin immediately or after a deferment period.
What to Compare
Important Considerations
Annuity income, access to capital, inflation protection, spouse continuation, and death benefits vary significantly by option. Selection should consider household expenses, other retirement income, emergency liquidity, longevity, and applicable tax treatment.
Common Questions
Can the purchase price always be withdrawn?
No. Liquidity, surrender, loan, or return-of-purchase-price provisions depend on the selected annuity option and insurer terms.
Is the highest initial income automatically best?
Not necessarily. A higher initial income may involve different spouse, capital-return, escalation, or liquidity provisions.
Can an annuity cover a spouse?
Joint-life options may continue income for a spouse, subject to the product and option selected.
The Zenisk Advisory Approach
We help organise your income priorities and compare the consequences of each payout option before selection.
Review Retirement Income