Available exclusively through your financial adviser, LifeIncome is an investment-linked lifetime annuity that pays a regular income for life. LifeIncome is designed to optimise your retirement income and complement other retirement solutions such as an account-based pension. When included as part of a comprehensive retirement portfolio, LifeIncome can deliver you more income over your retirement. A major benefit of LifeIncome is investment choice, and potential to access some or more of the Age Pension.
More income, sooner – with LifeBooster you can enjoy more income in the earlier years of retirement
Confidence of an income guaranteed for life by using one of the world’s largest reinsurers
Comfort knowing your income will continue to be paid to your spouse on your passing, if you choose
An income stream linked to the performance of the investment options chosen by you and your financial adviser, chosen, meaning that income will fluctuate from one year to the next
A wide-ranging investment menu, including 23 investment options across all major asset classes, as well as responsible investment options to align with your personal values
Flexibility to select multiple investment options and switch between investment options.
Potential to access some or more of the Age Pension and other social security benefits sooner
A lump sum Death Benefit is payable to your nominated beneficiaries or estate if you pass away within your Death Benefit Period, which is determined when you commence LifeIncome
The new era of lifetime annuities in Australia
LifeBooster is a key benefit of LifeIncome that enables you to receive more income in the earlier years of your retirement. You receive more money upfront, which is accounted for over time based on a LifeBooster rate of your choice.
We give you access to a range of leading Australian and international investment managers and provide you with the flexibility to switch investment options. Working with your financial adviser, you can build your own portfolio by investing in single asset investment options or use one of the diversified investment options to suit your desired risk profile. LifeIncome also offers a range of responsible investing investment options for those that want to invest in funds that align with your social and personal values.
Our investment menu has been built to offer investment choice across a wide range of funds to meet your retirement goals and objectives. Leveraging the expertise of fund managers with proven ability to generate returns above benchmark performance, our extensive investment menu has been designed to protect against volatility, align changes in annual income to the cost of living and enable investors to make a social impact through a choice of responsible investing investment options.
When you commence LifeIncome, you exchange a lump sum for a regular income that will be paid to you for the remainder of your life regardless of how long you live. Generation Life establishes and manages reserves from which your regular income is paid. These reserves pool your investments with the investment of all other investors and are based on the life expectancy of you and other investors. A proportion of the reserves is reinsured to address the possibility that you or other investors live longer than the life expectancy assumptions used to calculate the reserves.
Generation Life has appointed Hannover Life Re of Australasia Ltd (‘Hannover’) as the reinsurer for LifeIncome - a subsidiary of Hannover Rueck SE, part of the Hannover Re Group worldwide. Hannover Re Group is known for very strong insurer financial strength ratings, including Standard & Poor’s AA- ‘Very Strong’. Please note: you are not a party to the arrangements between Generation Life and Hannover.
To find out more about LifeIncome, contact your financial adviser.
LifeIncome LifeBooster 5%: 68092843902050
LifeIncome LifeBooster 2.5%: 68092843902025