Wow.....more good deals coming?
The once off bonus to delay payment to beyond age 62, will also affect people's consideration for Annuity.
Many are hesitant with the current 4% interest and now with once off bonus and the additional 1% above current rate capped at $60,000 more will be hesitant to place their minimum sum from age 55.
Those who are richer, will hold on to age beyond 62 for the bonus and additional 1%.
I believe all insurers will go back to their drawing board to see how they can work to counter all these to make Annuity attractive?
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