Bonus Income Annuity

Bonus income from your retirement annuity

Bonus income annuities can offer valuable protection for those looking to retire at any stage of life. They allow you to save money on a tax-deferred basis, remaining exempt from income tax until you start to withdraw your money. The result is that annuities can provide you with bonus cash, either in the form of a lump sum or as a retirement income, through instalments. Annuities offer insurance for your beneficiaries’ future, as well as a welcome bonus during your retirement years.

QuoteRack.com can put you in touch with experienced and professional finance and insurance specialists who understand the importance of your family’s and your financial futures and will take your individual circumstances into account when considering your retirement annuity income.

“We work with only dedicated finance and insurance specialists who know the market inside out and appreciate the finer points of finding the best policy available for your circumstances.”

Some annuities with surrender charges reward the investor by offering a bonus: the insurance company adds an average of 3% to 10% to each of your premium payments, which can make for an excellent head start. For example, if you invest $10,000 in a bonus annuity the insurance company will add $300 to $500". Or a $50,000 investment would be Bonuses 10% upfront, for an initial investment, which give a total $55,000 for initial investment. The trade-off is that with a bonus annuity the surrender period is usually longer (eight to nine years in most cases versus the typical seven-year surrender) and each subsequent bonus payment will have its own eight or nine year surrender period.

People are living longer and it may be that you find yourself having to maintain your standard of living for as many years in retirement as you spent working. Financial products such as bonus annuity income are subject to a number of variables in the marketplace and the finance and insurance specialists we work with understand how to get the best from your assets, by taking the time to understand exactly what it is you want from your retirement.