Guaranteed minimum period

 

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Guaranteed minimum period

The period during which an annuity is paid irrespective of whether the annuitant dies during that period.If the annuitant lives beyond this period, payments continue until death. An annuity with such a guarantee could benefit people, with dependants who require the income to continue after their death. This means that the sum of money paid for the annuity would not be wasted in the event of early death.



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Some unit trusts offer a floor price and guarantee their bid price will not be allowed to fall below that level. They also 'lock in' any growth achieved every few months.From an investor's point of view, this guarantee provides reassurance about the value of their investment. Even if the value of the trust's assets falls well below the floor, the bid price (the amount that an investor can sell his units for) will remain at the guaranteed level.


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