Generation Life has launched its next generation of investment-linked lifetime annuity offering LifeIncome which gives retirees more flexibility for example to include a loved one other than a spouse as a the reversionary beneficiary when LifeIncome is commenced with non-super money.
Couples can also increase their starting income through LifeIncome Flex as couples spend more money together than they do after one passes away. Income is lowered upon the passing of the client or their partner. LifeIncome also offers a new dollar cost averaging facility to account for the volatility in investment markets which allows clients to receive a weighted average price for their investment.
Customers also have the option to receive fortnightly payments either at the same time as their Centrelink Age Pension payments or the alternate fortnight.