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Jennifer's Story
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Jennifer's Story

At 71, Jennifer places her $150,000 RRIF into SunWise Elite Plus. In her first full year, Jennifer receives the Minimum Annual Payment (MAP) of $10,719, which is 7.4% of her market value on January 1. This is considerably higher than her guaranteed income for life of $7,781. But with SunWise Elite Plus, she will always receive the higher amount. In years when her MAP is above 5%, she receives the MAP, and in years when the MAP is below, she receives the guaranteed income (LWA).


SunWise Elite Plus offers Jennifer the flexibility to meet the legal requirements for her RRIF without affecting her future guaranteed income.

As Jennifer ages, the market value of her investment begins to decline rapidly. But with SunWise Elite Plus, Jennifer is always guaranteed to receive $7,781 every year – even when the value of her investment is reduced to zero.

 

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In pre-retirement, this means as your investment grows, we automatically apply the 5% bonus to the GMWB value, which will also increase your retirement income.
During retirement, when you are receiving income, this could raise your annual income.*

 

This chart is for illustrative purposes only. It is not intended to predict or project investment results. Illustration assumes an 80% equity/20% income asset mix, based on historical rates of return, gaining on average 8.4% per year. Annual withdrawals are assumed to be 5% of LWA Threshold Amount. Subject to legislated miminums and maximums and certain conditions.

Note: SunWise Elite Plus guaranteed income resets work independently from SunWise Elite principal protection resets.

*Excess withdrawals above the guaranteed annual withdrawal amount may have a negative impact on the guaranteed income. The guaranteed income or Lifetime Withdrawal Amount is available after December 31 of the year the annuitant turns 65. Payments can continue until the death of the last surviving annuitant.

 

 

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