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IP-Profiler - Retirement
RRIF - Life Income Funds

Today's investor has no shortage of investment options to choose from. We believe so strongly in our mission to make money management easy for our clients that we went and had it registered as our Trade Mark - Money Management Made EasyŽ.

We want you to profit from our research. This section provides a base reference source of investment products in a simple format. The information outlined below is provided to give an overall illustration of parameters that may be in effect for this investment product.

Investment Product 
P r o f i l e r: 
Life Income Funds
Questions to Ask: Answers you may find:
Minimum Deposit: $10,000 - initial
$2,500 - additional
Investment Terms & Accounts: - Daily interest tiered savings account
- Any term from 1 - 45 years.
- 1 year open account for immediate transferability
- Open RRIF available for short term funds, i.e. less than 1 year.
Rate Guarantee Period on Transfers: 45 days (also on reinvestments and new deposits)
Annual Administration Fee: None
When CANSIM Rate Adjusted: Annually (in January)
Interest Payment Method: Compounded annually at the original rate.
Interest Bands: Zero - $1,000 no interest
- $ 1,001 - $10,000
- $10,001 - $24,999
- $25,000 - $99,999
- $100,000 - $249,999
- $250,000 - $999,999
- $1,000,000 and over - Refer to Head Office.

LIF Pay-out options: - Maximum income
- Minimum payout
- Accelerated Income
- Interest only
- Level income
- Customized payment schedule
Unscheduled pay-out: Subject to market value adjustment and $2,500 minimum. $10,000 maximum or 10% of account value allowed once per year.
Cannot exceed legislated maximum amounts.
LIF Pay-out frequency: Monthly, quarterly, semi-annually and annually.
LIF payment fee: No fee
Change in LIF Pay-out amount: At any time. Free at maturity or once per calendar year (except first or last year). Otherwise $50 fee.
Withdrawal/Transfer Full or Partial : $2,500 minimum up to $10,000 or 10% of account value allowed once per year without charge, otherwise subject to market value adjustment. If investment matured no-charge.
Issue Ages: Min. age varies (55 - 79) by province according to pension plan regulations.
Statement frequency: None, payout schedule provided or if subsequent changes.
Are illustrations produced as part of Policy or Contract: Yes
At maturity: Before age 80, must purchase a joint life annuity unless spousal waiver allowed.
Death Benefit: Proceeds before annuitization are payable to the spouse in most provinces.
Other: 1) Multiple funds (max. 5 guaranteed terms per contract); interest rate banding based on total funds each term fund can have own payout schedule.

2) Additional Deposits - small additional deposits get rate band enhancements when added to larger contract.

3) "Forward Commitment LIF" offers rate basis guarantee up to 1 year before investment.

4) Favorable conversion pricing to life annuity.

Data extracted from The Fiscal Reports - Registered Retirement Income Funds and Life Income Funds, Report # 11 -3 and provided as a generic product illustration only - issuers of such products may have some, but not all of the features shown .


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