Lifestream Guaranteed Income - Fixed term annuities

Income with a fixed term annuity

Lifestream Guaranteed Income is issued by Resolution Life Australasia Limited and brought to market under the Acenda Life brand.

Fixed term annuities provide guaranteed, regular income for a set period, between 1 and 30 years. For individuals, tax may be deducted from your regular payments. However, if you’re 60 or over, have met a condition of release and have purchased the annuity with money from your super, the regular payments will be tax-free.

Customers can choose monthly, quarterly, half-yearly or yearly income payments and have the option to have all or a portion of their purchase price returned to them at the end of the term. This option is referred to as the Residual Capital Value (RCV).
Why choose a fixed-term annuity?
Income that's guaranteed
Receive ongoing payments for a fixed term, regardless of market conditions.
Flexible product features 
You can choose the payment frequency of the annuity and name your beneficiaries. 
Withdrawals
When purchasing a fixed term annuity, you have the flexibility to make a full withdrawal and end the policy before the end of the term. In some cases, you may be able to make a partial withdrawal. 
Setting a Residual Capital Value
You can choose between 0-100% of your purchase price to be returned to you as a lump sum when the annuity matures.
Consumer Price Index (CPI)
To protect against rising living costs, you can choose regular payments that index annually in line with CPI if your fixed term is longer than six years.
No hidden costs
No ongoing fees or hidden costs, with the certainty of regular income payments.
Is a fixed term annuity for you?

A fixed term annuity may suit you if:

  • You are seeking reliable income for a specific term.
  • You wish to access capital at the end of the term.
  • You want regular income payments that aren’t impacted by market movements.
  • You’re looking for a reliable alternative to term deposits to support your retirement plan.

Take a look at the Target Market Determination (TMD) to understand if a fixed term annuity is right for you.

What are the risks?

Annuities offer low-risk, regular payments for a fixed term or for life, unaffected by interest rate or market changes, but there are some risks involved:

  • Non-transferable ownership: A Lifestream Guaranteed Income annuity can’t be transferred or used as loan security.
  • Withdrawal limitations: Early withdrawals may result in receiving less than the investment amount.
  • Impact of death: The annuity may end upon death, depending on the chosen beneficiary and selected options.
  • Counterparty risk: While regulated by Australian Prudential Regulation Authority (APRA), extreme events could affect our ability to meet payment obligations. However, Australian prudential requirements work to ensure as far as possible that we will be able to continue to meet our contractual obligations to customers, even when there is a significant financial shock to markets.
  • Inflation risk: There is a risk that the purchasing power of the regular payments won’t keep pace with inflation when nil CPI or nil fixed indexation is chosen.
  • Regulatory risk: Changes in Government policies and legislation may affect the annuity’s terms and conditions.

Ready to take the next step?

Contact an adviser

Get started by speaking to your financial adviser if you have one.

If you don’t have one, you can find one on the Moneysmart website.

Find an Adviser

Call the Resolution Life Retirement Support Team

9am - 5pm AEDT/AEST Monday - Friday, excluding public holidays

13 57 22

Important documents

Lifestream Guaranteed Income is issued by Resolution Life Australasia Limited and brought to market under the Acenda Life brand.

Lifestream Guaranteed Income Product Disclosure Statement (PDS)

Lifestream Guaranteed Income Target Market Determination (TMD)

Superannuation benefit transfer request

Identification Form for Australian Companies

Identification Form for Unregulated Trusts and Trustees

Identification Form for Australian Regulated Trusts and Trustees (including self-managed super funds)

Confirmation of tax information Individuals

Confirmation of tax information Entities

Identification Form for Individuals

Third party authority for individuals

Change of details

How to have a Power of Attorney added to a policy

Nomination of beneficiary

Statutory Declaration

Withdrawal request

Retirement resources

Retirement planning is not one-size-fits-all. Check out this range of resources to support advisers and retirees in making informed decisions.

Learn more

Resolution Life's approach to retirement income

Retirement Income Philosophy

Retirement should be a period of certainty. Lifestream Guaranteed Income supports a sustainable approach to retirement by offering guaranteed income, no matter how long retirement lasts. With customisable features, Lifestream Guaranteed Income adapts to a range of lifestyles. This helps bridge income gaps to meet the Association of Superannuation Funds of Australia Limited (ASFA) retirement standard, forming a key component of an income layering strategy.

Lifestream Guaranteed Income is designed to protect peace of mind. Because, after a lifetime of hard work, Australians deserve to step into their next era with confidence.

Retirement Income Strategy

Resolution Life’s Retirement Income Strategy outlines how we can help customers who are retired or are approaching retirement, to achieve a range of retirement objectives, including:

  • Maximising your retirement income and taking into account the Age Pension and any other income support payments.
  • Managing your retirement income, the risk of outliving your savings and outlining the risks at different stages of retirement.
  • Flexible access to your savings during retirement.

You may also want to consider

Lifestream Guaranteed Income - Lifetime annuities

A guaranteed regular income for life. With a lifetime annuity, you exchange a lump sum for regular payments that continue for life, helping you protect against outliving your savings.

Learn more

The issuer of Guaranteed Annuities Lifestream Guaranteed Income (also referred to “Lifestream Guaranteed Income”) is Resolution Life Australasia Limited ABN 84 079 300 379, AFSL No. 233671 (Resolution Life). Any reference in connection with the product issuer of Guaranteed Annuities Lifestream Guaranteed Income to "we", "our" or "us" on, or available through, this website is a reference to Resolution Life.  As product issuer, only Resolution Life has obligations in respect of Guaranteed Annuities Lifestream Guaranteed Income product and provides any guarantee offered under it. Acenda is a registered trademark of Nippon Life Insurance Australia and New Zealand Limited ABN 90 000 000 402, a related body corporate of Resolution Life, and is used under licence by Resolution Life. Where the information on this website is factual information only, it does not contain any financial product advice or make any recommendations about a financial product or service being right for you. Any advice is provided by Resolution Life, is general advice and does not take into account your objectives, financial situation or needs. Before acting on this advice, you should consider the appropriateness of the advice having regard to your objectives, financial situation and needs, as well as the product disclosure statement (if available) and policy document for the product. Any Target Market Determinations for the product can be found at resolutionlife.com.au/target-market-determinations. Resolution Life can be contacted by calling 13 57 22.

Taxation considerations are general and based on present taxation laws and may be subject to change.  Resolution Life is not a registered tax (financial) adviser under the Tax Agent Services Act 2009. You should seek independent tax advice from a registered tax agent or a registered tax (financial) adviser if you intend to make any decision based on this information to satisfy the liabilities or obligations or claim entitlements that arise, or could arise, under a taxation law.