Those near or in retirement really like the idea of receiving a Guaranteed Lifetime Income (GLI). But tell them this is the same as an old-fashioned life annuity and suddenly many lose interest.
That’s a pity because, as this column has long argued, there is a growing need for a Guaranteed Lifetime Income, particularly as employer-sponsored defined benefit pensions fall by the wayside.
The prevailing bias against annuities is confirmed with the results of a new 2018 Canadian Guaranteed Lifetime Income Study, conducted by Greenwald & Associates and CANNEX for two Canadian insurance companies.In the study, almost half of the subjects […]
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