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What is a Guaranteed Annuity?
CommInsure Guaranteed Annuities can provide you with a regular income in retirement.
Features and benefits at a glance
- Choice of terms: our annuities provide a guaranteed income for a chosen period of between one and 30 years.
- Tax free payments: retirees aged 60 or over will receive their annuity payments tax free if they use superannuation.
- Receive regular payments for as long as you live: with lifetime annuities, regular payments are paid to you for as long as you live.
- Protection from inflation: regular payments can be indexed to the Consumer Price Index, protecting funds from inflationary effects.
- No additional ongoing management fees: our annuities charge no additional ongoing management fees and that means more money in your pocket.
CommInsure offers award-winning guaranteed annuities which include:
1) Lifestream Guaranteed Income
2) Guaranteed Index Tracked Annuity
What is Lifestream Guaranteed Income?
Lifestream Guaranteed Income is an immediate annuity. It allows you to invest a lump sum amount (from either personal savings or superannuation money) to provide you with a regular, guaranteed income over a specific term including:
- Short Term Income, for a Fixed Term of 1 to 5 years earning a guaranteed yield.
- Long Term Income, for a Fixed Term of 6 and 30 years earning a guaranteed yield.
- Lifetime Income, provides a guaranteed income for your lifetime.
Who is it suitable for?
Lifestream Guaranteed Income is generally suitable for:
- Individuals, companies, funds and trusts seeking a low risk investment that provides guaranteed regular income payments.
- Retirees using superannuation money, seeking a tax free income stream. When a retiree turns 60 and they invest in an annuity sourced from superannuation money, they can take advantage of superannuation laws regarding tax free payments.
- Retirees seeking an income stream that provides longevity protection. A Lifetime Income Annuity provides investors with a regular income stream for as long as they are alive.
What is Guaranteed Index Tracked Annuity (GITA)?
GITA is an immediate annuity that offers all the advantages of a traditional annuity, plus some exposure to the upside of the equity market, yet without the downside risk.
It provides a guaranteed minimum initial return from the date of purchase, for the term of the investment. The income
stream is guaranteed never to decrease in any year, and has the potential to achieve compounded increases of up
to 5% per annum, in line with the percentage movement in the S&P/ASX 200 Price Index. The S&P/ASX 200 Price Index is recognised as the investable benchmark for the Australian equity market. The S&P/ASX 200 Price Index takes into account price movements in the relevant stocks. The index does not take into account such things as dividends, bonuses, buyback and other offers that may affect the price of the relevant stocks.
GITA enables you to use a lump sum amount (from either personal savings or superannuation money) to provide you with a regular, guaranteed income over a specific term.
This can be:
- Short Term Income, for 2 to 5 years
- Long Term Income, for between 6 and 25 years
Who is it suitable for?
GITA is generally suitable for:
- Individuals, companies, funds or trusts seeking an investment that provides guaranteed regular income payments that may increase on a compound basis of up to a maximum of 5% each year.
- Retirees using superannuation money, seeking a tax free income stream. When a retiree turns 60 and they invest in an annuity sourced from superannuation money they can
take advantage of superannuation laws regarding tax free payments.
To find out more about Guaranteed Annuities
To find out more, download the Product Disclosure Statements or speak to your financial adviser, call into any branch of the Commonwealth Bank or phone 13 10 56 between 8am and 8pm (Sydney time), Monday to Friday.
Download Guaranteed Annuities Lifestream Guaranteed Income
Download Guaranteed Index Tracked Annuity A guaranteed regular income plan
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Important Information
| 1. |
As this advice has been prepared without considering your objectives, financial situation or needs, you should, before acting on the advice, consider its appropriateness to your circumstances. |
| 2. |
Lifestream Guaranteed Income and Guaranteed Index Tracked Annuity are issued by The Colonial Mutual Life Assurance Society Limited ABN 12 004 021 809. Product Disclosure Statements for these products are available by clicking here or from your Financial Adviser or by calling CommInsure on 13 10 56 (from overseas call +61 13 10 56), and should be considered before making any decision in relation to this Product. |
| 3. |
Commonwealth Financial Planners are representatives of Commonwealth Financial Planning Limited ABN 65 003 900 169 (Commonwealth Financial Planning) AFSL 231139. |
| 4. |
The offer made in this PDS is currently available only to persons receiving this document within Australia. Applications from outside Australia will not be accepted. |
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