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What is an annuity?

An annuity is a low-risk investment product that guarantees a regular income, either for a fixed term or for life. They can be purchased by individuals with money from their super, or individuals and joint owners and companies, trusts and funds with personal savings.

Annuities are generally suitable for investors seeking a secure guaranteed income in retirement, a conservative/low risk investment that provides guaranteed regular payments, certainty in estate planning and to maximise social security entitlements.

Investors have the option of choosing if they want regular payments made monthly, quarterly, half-yearly or yearly.

Key benefits of an annuity

  • The ability to lock in a guaranteed return and the comfort of knowing your investment and income are secure no matter how the share market performs.
  • The option to receive your income for a fixed term as monthly, quarterly, half-yearly or yearly payments.
  • Tax-free regular payments for people over 60 who invest with money from their super (see PDS for full details).
  • Tax offsets for some people aged between preservation age and 60 who invest with money from their super.
  • At the end of the investment term you can access some or all of your initial capital investment. 

See PDS for more details

Types of Lifestream Guaranteed Income Annuities

Fixed term annuities

  • Choose a fixed term from one to 30 years
  • Choose between zero and 100% of your purchase price to be returned to you as a lump sum when the policy matures

 

What does it provide?

Death benefit guarantee

The Death Benefit Guarantee ensures that if the Policy Owner dies after starting their annuity but before the end of Guaranteed Period, a lump sum amount will be payable to their estate or Reversionary Beneficiary.

Withdrawal benefit guarantee

The Withdrawal Benefit Guarantee ensures that the Policy Owner receives a minimum lump sum amount if they elect to make a full withdrawal during the Guaranteed Period.

*Terms and conditions apply. Refer to the PDS for more details. 

Who is this suitable for?

Anyone looking for secure income

Annuities offers a guaranteed regular income for a fixed term, with all or part of your purchase price returned to you at the end of the term.

Retirees

When purchased with super money, our Lifestream Guaranteed Income annuities offers a guaranteed income with tax benefits for individuals or couples of preservation age.

People transferring wealth

Annuities offer a secure wealth transfer for individuals who want to provide for their beneficiaries.

Corporations, trusts and funds

From large corporates to family trusts, organisations large and small can also benefit from the security of an annuity and as a way of diversifying their income streams.

Resolution Life has prepared a Target Market Determination which describes the class of consumers that comprise the target market for this product. The Target Market Determination can be sourced at Target Market Determinations.

How to invest

STEP 1

Read this PDS

We recommend that you read this PDS carefully before investing in an annuity.  

DOWNLOAD PDS


STEP 2

Get a quote

  • A quote will outline what your regular payments will be. To get a quote you can:
  • Contact your financial adviser, or
  • Call us on 133 731 between 9am and 5pm (AEST/AEDT), Monday to Friday, excluding public holidays.


STEP 3

Send us your quote and completed application form/s

To apply for a guaranteed annuity, you need to provide

  • a completed and signed application form
  • a valid quote (valid for 14 days)
  • identification and verification documents
  • the investment amount via cheque, direct deposit or super rollover

The effective date of your annuity is the date all application requirements, including your investment, are received and accepted by us.

For more information

Contact your financial adviser, or call us on 133 731 between 9am and 5pm (AEST/AEDT), Monday to Friday, excluding public holidays.

Retire your way

Whether retirement is just around the corner or still a while away, the sooner you start planning and saving, the more you could end up with in your pocket.   

Find helpful insights and resources, including our age-based retirement guides, designed to help you plan for retirement. 

Learn more

Forms and documents

 

Awards

Our Lifestream Guaranteed Income annuity has won the following awards:

  • 2022 Plan for Life Tools & Calculators
  • 2021 Association of Financial Advisers (AFA) Short Term Income Stream Award
  • 2021 AFA Annuity Innovation Award
  • 2021 and 2020 Plan for Life Longevity Product - Term & RCV Award
  • 2020 AFA Short Term Income Stream Award
  • 2019 Plan for Life Longevity Product – Multiple Annuity Portfolio Award

What you need to know

Resolution Life Australasia Limited ABN 84 079 300 379, AFSL No. 233671 (Resolution Life) is the issuer of the Guaranteed Annuities Lifestream Guaranteed Income.

Any advice on this website is provided by Resolution Life, and is general advice and does not take into account your objectives, financial situation or needs. Before acting on this advice, you should consider the appropriateness of the advice having regard to your objectives, financial situation and needs, as well as the Guaranteed Annuities Lifestream Guaranteed Income Product Disclosure Statement and Policy document, available from Resolution Life at resolutionlife.com.au/annuities or by calling 133 731, before making a decision on whether to acquire, or continue to hold, the product.

Any guarantee offered in this product is only provided by Resolution Life.

The Target Market Determinations (TMDs) for our financial products (where applicable) can be found at Target Market Determinations - Resolution Life. The TMDs describe the key features and attributes of an applicable product that affect whether it is likely to be consistent with the objectives, financial situation and needs of consumers in the target market.

Resolution Life is part of the Resolution Life Group and can be contacted via contact-us or by calling the phone number mentioned above.