SSQ Astra Guaranteed Income
You have worked hard to build peace of mind for your retirement. Like most Canadians, you face financial challenges such as outliving your savings, inflation risk, and market volatility. All of which can erode your retirement portfolios and negatively impact your retirement lifestyle. Empire Life has designed Class Plus to address those challenges and help bring you peace of mind in retirement.
At a Glance Pro’s:
Empire Life has been a founded Canadian Company since 1923 providing Insurance and Investment Solutions for Canadians. Empire Life prides itself on its close and personal service with their customers and their advisors. Empire Life has always had very strong financial ratings and their Capital Reserve is one of the strongest in their Industry. With a seasoned CFO, Empire has been working on a very disciplined approach to Investing in a Conservative Value-Oriented Manner. Since Empire Manages their own families of funds the MER’s are some of the lowest in the Segregated Fund Industry.
At a Glance Con’s:
If you are looking for some of the big brand name funds you see on TV you will not find them here. With around 20 different types of funds, all of them managed in house, you will not find the Big Box funds here.
You are given a standard 75/100 Guarantee; 75% Principle Guarantee after 10 years; and a 100% Death Benefit Guarantee from Contract issue.
Annual Income Base Interest Rate Credited (or Market Value, whichever is higher):
5% Income Base Guarantee or Market Value, whichever is higher.
Account Automatic Market Value Resets:
Every 3 years, if the Market is higher, you receive the Market Value, if 5% is better than market return, there is no need for a reset.
Guaranteed Minimum Income for Life:
5% of Account Value or Income Base Value, whichever is higher for Life, starting at age 65.
MER Fee including Income for Life fee:
From 1.5% to 3.07% Depending on Fund
S & P Rating based upon Financial Stability and Strength:
AM Best Rating of A