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Aegon Secure Lifetime Income

An overview

Do any of these sound like you?

woman sitting using tablet

‘I’ve been worried that the money I have in the bank might run out. It would be a great relief to know I have an income that will always be there throughout my retirement.’

 
man walking through office

‘I’ve had some tough times, with markets affecting my investments and what I can take out. It would be reassuring to know that my income won’t go down but could go up if my investment grows.’

 
man at desk

‘I’ve been concerned about the impact inflation might have on how much I can buy in the future. Although I don’t need an income now, I’d be really pleased to know that getting a minimum increase will at least offset some inflation until I do need it.’

 
mother and child shopping

‘The last thing I want is for any money I have left when I die not to go to my family. It would be comforting to know that anything left in my plan gets passed on.’

 
Summary and charges

What does Aegon Secure Lifetime Income offer?

  • A minimum yearly income for the rest of your life – no matter what happens to the value of your original premium.
  • The opportunity to increase your income base (and therefore your guaranteed lifetime income) through our unique monthiversary feature. This means there are 12 values for us to review every year. This gives you 12 opportunities - for every year you have your plan - to lock in any growth.
  • Increases to your minimum income base of at least 3.25% of the original premium (proportionately reduced for any additional withdrawals), for each year you're invested, but not yet taking a guaranteed lifetime income.
  • A guarantee to pay your estate the higher of: your original premium less any guaranteed lifetime income payments received, or 100.1% of your plan’s fund value, if you select the guaranteed death benefit option
  • Tax-efficient income - you won't pay income tax on the guaranteed lifetime income you receive from your investment. This might only change if your guaranteed lifetime income increases.

Any additional withdrawals taken from the plan, including any ad-hoc payments to your adviser, will reduce the guarantees proportionately.

To find out more about Aegon Secure Lifetime Income and the features it offers, read our brochure A guaranteed income for the rest of your life.

Aegon Secure Lifetime Income could be suitable if you:

  • are aged between 45 and 79
  • have between £20,000 and £1 million to invest
  • want a guaranteed income for life from age 55 or older
  • don’t want your income to go down, but do want the potential to benefit from any market increases
  • want the opportunity to have a guaranteed increase in your income base before you start taking any guaranteed lifetime income
  • want to be able to pass any money left over to your loved ones when you die
  • want a tax-efficient income stream
  • want a choice of where you can invest your money
  • want to keep access to your capital – just in case

Aegon Secure Lifetime Income may not be suitable if:

  • you don’t meet the eligibility criteria for the plan
  • the guarantees on offer don’t appeal to you
  • you’re not prepared to pay a bit extra for the guarantees

Investment choice

We have a range of Managed Risk Portfolios, Core Portfolios and UK Cash fund you can choose from.

The Managed Risk Portfolios invest in a mix of fixed interest, equities and sometimes cash in order to manage the risk levels in the fund. Our Core Portfolios are a mix of fixed interest and equities with a target fixed interest/equity allocation.

Our leaflet Your investment choice gives you more detailed information on the funds available.

Charges

Our Product charges leaflet shows the various charges that apply.

Adviser charging

With Aegon Secure Lifetime Income we also offer to facilitate adviser charges, please speak to your financial adviser for more information on how we can make these payments.

 

Important information about the guarantees we offer

  • Aegon Secure Lifetime Income offers guarantees. These guarantees are promises that we’re making to say that this product will deliver you certain benefits.
  • Any guarantees are based on the ability of the issuing insurance company – in this case Aegon Ireland plc – to pay them. If, for example, that company no longer existed, then the guarantees it provides would be affected.
  • It does cost a bit extra for guarantees. It’s much like paying for the things you insure on a day-to-day basis just now. The cost of the guarantees will depend on where you choose to invest your money. Your financial adviser will be able to tell you how much this will be before you set up your plan.
  • If you take out an Aegon Secure Lifetime Income plan and decide to cash-in your plan, then the guarantees will no longer apply. We don’t offer a guaranteed fund value so you could get back less than your original premium.
  • Aegon Ireland runs a sophisticated, prudent risk management programme that aims to allow us to honour the guarantees we make you. Your financial adviser will be able to give you information on how we do this.

 

Next steps

Contact your financial adviser for a copy of our support literature and to arrange for a personal illustration.

If you don’t have a financial adviser, our find an adviser service can help you find one in your area.

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