The timing around when your client purchases a Guaranteed Income for Life (GIFL) solution, provided by a pension annuity, can have an impact – positive or negative – on the income they receive for the rest of their life.
Our deferral calculator helps illustrate the effects of delaying the purchase of a GIFL solution on both the annual income and the total income received over an individual’s expected remaining life span.
What impact could a delay in purchasing a GIFL solution have?
It’s quick to find out; simply enter a few details about your client – a reference, their gender and a broad indication of their level of health – and a few financial details such as the fund size, positive or negative investment return achieved and length of potential deferral.
Then click ‘calculate’ to show the results visually, including the impact on their annual income and the time taken to recoup the income missed through delaying the initial purchase.
For each scenario, you can create a PDF to save or print out a copy of the results to share with your client.
Please note that all figures generated are illustrative and based on your inputs and the assumptions displayed at the bottom of the calculator.