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Lifetime income benefit

Guarantee your income for life

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Segregated fund policy information

Investments tailored to protect you

Table of conTenTs

financial strength and stability ...3

Great-West life lifetime income benefit ...4

Guarantee your income for life ...4

longevity risk ...5

Market return risk...5

Take control of your income ...6

Is it right for you? ...6

Guaranteed income for life ...7

no matter how long you live ...7

five per cent annual deferral bonus ...8

Increase your lifetime income with deferral bonuses ...8

bonuses can add up ...8

Income resets ...9

Increase your lifetime income amount with resets ...9

Market conditions don’t affect your retirement income...10

Market conditions don’t affect your savings ...11

Payments from registered policies ...12

Great-West life segregated funds plus lifetime income benefit ...13

a powerful combination ...13

choose your guarantee ...13

select the right funds for you ...14

Managed portfolio solutions ...14

Individual funds ...16

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Financial strength and stability

Great-West life is a leading canadian insurer with interests in

life and health insurance, investment, retirement savings and

reinsurance businesses, primarily in canada and europe.

In Canada, Great-West Life and its subsidiaries, London Life and Canada Life,

offer a broad portfolio of financial and benefit plan solutions and serve the financial

security needs of more than 12 million people.

Great-West Life’s products include a wide range of investment, retirement savings

and income plans, as well as life, disability, critical illness and health insurance for

individuals and families.

Great-West Life has more than $192 billion

*

in assets under administration and

is a subsidiary of Great-West Lifeco Inc., a member of the Power Financial Corporation

group of companies.

*Assets as at Sept. 30, 2010

for information about Great-West and our products and services,

visit www.greatwestlife.com.

Notes about segregated fund policies

• This information applies only to the Great-West Life segregated funds launched in 2009.

• The Great-West Life segregated funds contract and information folder contain complete details about all the features of the lifetime income benefit. Read them carefully to ensure you understand the lifetime income benefit and its features.

• Features and guarantees vary by policy and age of annuitant and some limitations apply. Maturity and death benefit guarantees are reduced proportionately by withdrawals.

• Creditor protection depends on court decisions and applicable legislation, which can be subject to change and can vary between provinces; it can never be guaranteed. Talk to your lawyer to find out more about the potential for creditor protection for your specific situation.

• Deferral bonuses are not a guaranteed rate of return. They have no cash value and do not increase any applicable maturity or death guarantee benefits. Deferral bonuses increase your eligible lifetime income amount.

• Excess withdrawals will decrease the lifetime income amount and you will no longer be eligible for any future bonuses. An excess withdrawal is a withdrawal that exceeds the annual guaranteed income amount.

• Reset options must be chosen at time of initial premium to the segregated funds and cannot be removed once added. Additional fees apply.

• Income resets do not increase the maturity or death benefit guarantees. Resets are calculated every three years on the lifetime income benefit anniversary and come into effect on January 1 of the next calendar year.

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Great-West Life lifetime income benefit

Guarantee your income for life

For years your focus has been to save for retirement. Now you need innovative solutions to help you transition your hard-earned savings into income that will last your lifetime.

You also need to protect your savings against three retirement risks:

Longevity risk: You might outlive your money.

Market return risk: You could experience poor market returns in the early retirement years, increasing the chances you’ll use all your savings sooner than you planned.

Inflation risk: Your retirement savings might not earn enough to keep up with inflation. The Great-West Life lifetime income benefit option helps you manage these risks in retirement and protect your savings. The lifetime income benefit can help provide:

• Predictable, guaranteed income for life beginning as early as age 50

• The potential for increasing income

• A safe transition from savings to income

• Guaranteed income for life for you and your spouse

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Life expectancy in years at given age*

Age Male Female

50-54 +29.7 +33.8 55-59 +25.3 +29.2 60-64 +21.1 +24.8 65-69 +17.2 +20.6 70-74 +13.7 +16.7 75-79 +10.5 +13.0 80-84 +7.9 +9.8 85-89 +5.6 +7.0 90+ +4.1 +5.0

*Source: Life expectancy, by age group and sex. Statistics Canada, 2002

Longevity risk

Retirement planning considers the risk that you or your spouse might outlive your assets. The lifetime income benefit can help provide predictable, guaranteed income, no matter how long you or your spouse lives. Joint-life income can help protect couples from the risk of reduced income when a spouse dies.

Market return risk

As you plan for retirement, you may question what happens if you experience poor

market returns early in retirement. Industry experts consider the five years before and the five years after retirement an especially critical phase for your retirement savings.

This 10-year period is often referred to as the retirement risk zone because short-term losses in the years leading up to retirement have a limited time to recover before you begin to rely on them for income. The shorter the recovery period before and after your retirement date, the greater the negative effect these losses have on your ability to sustain income for life.

Retirement risk zone

The lifetime income benefit helps get you through the retirement risk zone by guaranteeing the starting value on which your lifetime income amount will be based. You can increase your income amount through bonuses earned in every year you defer making a withdrawal prior to taking an income.

Age 40 42 44 46 48 50 52 54 56 58 60 62 64 66 68 70 72 74 76 78 80 82 84 86 88 90 92 94 96 98 100 Retirement income years

Saving years Retirement risk zone

Retirement risk zone

Retirement date

For illustration purposes only. Policy market value is hypothetical only and not indicative of future performance.

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Take control of your income

The lifetime income benefit puts you in control of your retirement savings and income by guaranteeing your income for life. Your income won’t decrease regardless of how the segregated funds perform, which provides you with protection against the risks of longevity, inflation, and market returns and volatility.

Guaranteed income for life

Age 65

Hypothetical policy market value

Guaranteed income for life

$25,000

Guaranteed income for life

Even if the policy market value drops to $0, you are

guaranteed to continue receiving payments for the

rest of your life.

$0 $50,000 $100,000 $150,000 $200,000 $250,000 $300,000 $350,000 $400,000 $450,000 $500,000 $550,000

For illustration purposes only. Policy market value is hypothetical only and not indicative of future performance. The lifetime income benefit option offers a lifetime income amount, which will never decrease provided excess withdrawals are not taken.

Is it right for you?

The lifetime income benefit is just one component of a well-diversified retirement income portfolio. It’s most appropriate for people getting ready to retire and retirees looking for secure predictable, guaranteed income. You and your spouse, if applicable, must be age 50 and under age 91 to add the lifetime income benefit to a segregated fund policy.

The lifetime income benefit works best for people who do not already have guaranteed retirement income. Guaranteed income comes from government benefits, company pension plans or life annuities. You should allocate only a portion of your retirement income portfolio to the lifetime income benefit. You will want to keep some funds easily accessible for emergencies and other needs that arise. The lifetime income benefit doesn’t allow you to take out extra money without penalties.

Work with your financial security advisor to develop a savings and income plan that’s appropriate for you. He or she can show you how the lifetime income benefit may help you to meet your retirement goals.

Information at

your fingertips

Visit lifetimeincome.greatwestlife.com for more information about the features and advantages of the lifetime income benefit.

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Guaranteed income for life

No matter how long you or your spouse live

The Great-West Life lifetime income benefit provides predictable, guaranteed income for life, starting as early as age 50, unlike other policies that don’t start distributing

income until age 65. The lifetime income amount is based on your age; this makes you eligible for higher income payments as you get older. When you select joint-life income, the lifetime income amount is based on an income percentage that corresponds with your current age (or your spouse, if applicable).

When you add the lifetime income benefit, your eligible lifetime income amount is the market value of your policy multiplied by the income percentage corresponding to your current age.

The percentage used to calculate the lifetime income amount increases with age.

Age used to

calculate income Single-life income percentage Joint-life income percentage

50 to 54 4.00% 3.50% 55 to 59 4.25% 3.75% 60 to 64 4.50% 4.00% 65 to 69 5.00% 4.50% 70 to 74 5.25% 4.75% 75 + 6.00% 5.50%

You may be able to increase your income through deferral bonuses and resets.

With the lifetime income benefit, you’re guaranteed income for life, whether you live to 85, 105 or beyond. Your income will not decrease, regardless of how the segregated funds perform.

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Five per cent annual deferral bonus

Increase your lifetime income with deferral bonuses

With the lifetime income benefit, you are eligible to earn a five per cent deferral bonus every year until you make a withdrawal. If you don’t need to take income right away, the deferral bonus can help you grow your lifetime income amount even when markets are down.

Once you begin taking an income, you are no longer eligible for deferral bonuses. If you stop taking income, you will only be eligible for deferral bonuses again when your policy value exceeds your lifetime income withdrawal base.

Important: Deferral bonuses are not a guaranteed rate of return. They have

no cash value and do not increase any applicable maturity or death guarantee

benefits. Deferral bonuses increase your eligible lifetime income amount.

Bonuses can add up

You can increase your income amount through bonuses earned in every year you defer making a withdrawal before you start taking an income. Bonuses increase the lifetime income withdrawal base, which help determine the lifetime income amount available to you.

For example: If you contribute a premium of $200,000 to your policy and defer income for 10 years, your lifetime income withdrawal base will have a minimum value of $300,000 because of deferral bonuses.

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Income resets

Increase your lifetime income

amount with resets

As policy values increase, you have the potential to secure those gains to increase your lifetime income amount. Your lifetime income amount will not decrease regardless of how the segregated funds perform.

How income resets work

This example shows how the lifetime income withdrawal base is increased every three years when the policy value is greater than the existing lifetime income withdrawal base.

Key features of income resets

• Can occur every three years • Lifetime income amount will

increase when a reset is applied • Resets are available for

the life of the policy

• Income resets do not increase the maturity or death benefit guarantees

Years

Income reset option

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18

New guarantee amount

Hypothetical policy market value

Reset

Hypothetical market value Lifetime income withdrawal base

For illustration purposes only. Policy market value is hypothetical only and not indicative of future performance.

Secure growth with automatic income resets

Once your lifetime income withdrawal base increases, it is guaranteed for life – regardless of any future down markets, assuming no excess withdrawals are made.

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Market conditions don’t affect

your retirement income

Jack, age 65, is planning his retirement income. He has a certain amount of guaranteed income from his company’s pension plan and decides to allocate $500,000 from his savings to a policy with the lifetime income benefit. He starts taking income immediately. Based on Jack’s age and initial premium, he is guaranteed to receive an annual lifetime income amount of $25,000 (five per cent of $500,000).

Scenario – Taking income in a down market

Even if the market value of his policy is reduced because of a market downturn, the lifetime income benefit still guarantees Jack income for life.

After 16 years, Jack’s policy market value reduces to $0. However, thanks to the lifetime income benefit, he continues to receive $25,000 a year.

Scenario – Taking income in an up market

When markets and segregated funds in Jack’s policy perform well, Jack can take advantage of income resets and higher income percentages.

As mentioned above, Jack’s annual lifetime income amount starts at $25,000. However, every three years, Jack’s policy can reset his income to a higher amount, if the market value on that

date multiplied by his income percentage results in a higher lifetime income amount. Even when taking income, Jack benefits from income resets every three years.

In this example, by year 18, Jack’s policy value grows to $842,833. His income percentage is six per cent, which results in an income of $50,570. If the segregated funds in his policy continue to perform well, his income could continue to increase.

Taking income in a down market

0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20

$25,000 minimum guaranteed income for life

For illustration purposes only. Policy market value is hypothetical only and not indicative of future performance.

$300,000 $240,000 $200,000 $300,000 $400,000 $500,000 $35,000 $45,000 $55,000 $65,000 Hypothetical policy market value

Annual income

Lifetime income amount (years)

Lifetime income amount (years)

Taking income in an up market

0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20

For illustration purposes only. Policy market value is hypothetical only and not indicative of future performance. Hypothetical policy

market value

$50,570 minimum guaranteed income for life $25,000 $26,545 $26,797 $31,580 $34,681 $44,069 $50,570 $400,000 $600,000 $800,000 $1,000,000 $30,000 $15,000 $60,000 $75,000

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Market conditions don’t affect

your savings

Nancy, age 50, wants to retire within 15 years. As a small business owner without a pension plan, she allocates $200,000 of her savings to the lifetime income benefit. This allows her to take advantage of the guarantees, income resets and deferral bonuses that may increase her lifetime income amount.

Nancy’s initial premium establishes a lifetime income withdrawal base of $200,000. For every year she defers taking income, she benefits from a five per cent deferral bonus. However, if Nancy decides to take income, she could still be eligible for a deferral bonus again when lifetime income withdrawal base resets to a higher amount. The bonus is a notional amount that, when added to her lifetime income withdrawal base, increases the lifetime income amount she is guaranteed to receive. Deferral bonuses have no cash value.

Scenario – Deferring income in a down market

As Nancy approaches her retirement date, she can decide to receive a lifetime income amount at any time. For example, at age 65, her lifetime income amount is $17,000 per year (five per cent of $340,000). This annual amount is guaranteed for life and could

increase. In this down market, however, Nancy is concerned about the poor segregated fund returns her policy has been experiencing. She decides to stay in business and let the annual deferral bonus continue, so she can increase her income when she retires.

Fortunately for Nancy, even in down markets her lifetime income amount is guaranteed, and it can grow through deferral bonuses. Through deferral bonuses of $10,000 accumulated over 20 years, Nancy’s lifetime income withdrawal base grows to $400,000.

The lifetime income amount available to Nancy when she retires at age 70 is $21,000 (5.25 per cent of $400,000). She is guaranteed to receive this amount every year for the rest of her life. Nancy could have deferred even longer because there is no maximum deferral period.

Scenario – Deferring income in an up market

If Nancy retires at 65 after several years of policy growth, she can benefit from both deferral bonuses and income resets. Income resets can occur as often as every three years. They can lock-in market growth and increase the lifetime income amount. They can also increase the amount of deferral bonus Nancy receives.

In this example, Nancy can start receiving more than $32,000 per year at age 65. However, if she waits five more years and enjoys continued positive segregated fund performance, her starting income can be much higher.

Years

Deferring income in a down market

$0 $50,000 $100,000 $150,000 $200,000 $250,000 $300,000 $350,000 $400,000 $450,000 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20

Lifetime income withdrawal base Deferral bonus Hypothetical policy market value

$21,000 minimum guaranteed

income for life 5.25% x $400,000

For illustration purposes only. Policy market value is hypothetical only and not indicative of future performance.

Years

Deferring income in an up market

$0

0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20

Lifetime income withdrawal base Deferral bonus Hypothetical policy market value $200,000 $400,000 $600,000 $800,000 $1,000,000 $1,200,000 $51,773 minimum guaranteed income for life 5.25% x $986,159

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Payments from registered policies

legislated minimum payments

When you convert your registered retirement savings plan (RRSP) into registered retirement income fund (RRIF) you are required to take minimum annual payments.

The lifetime income benefit was designed to provide income for life, regardless of RRIF payments.

You can meet the legal requirements of the minimum annual payment schedule, and still be guaranteed an annual income – even if the market value of your policy is reduced to zero.

In each calendar year, you may withdraw the greater of the RRIF minimum or the lifetime income amount. If you select joint-life income, the RRIF minimum must be based on the younger spouse’s age. If your

legislated minimum exceeds the lifetime income amount, the legislated minimum will be paid to you. These payments are not treated as excess withdrawals.

For example: If the lifetime income amount is $10,000, but the RRIF minimum is $12,000, you would receive $12,000 to meet the legislative minimum. However, it’s not considered an excess withdrawal, so your guaranteed lifetime income amount remains

intact. If you withdrew any amount above $12,000, it would be an excess withdrawal, which negatively affects your lifetime income amount.

Currently, only 75/75 or 75/100 guarantee policies offer the lifetime income benefit option. The policy must be a:

• Non-registered policy • RRSP and spousal RRSP • RRIF and spousal RRIF

• Prescribed retirement income fund (PRIF) – Saskatchewan and Manitoba only

• Locked-in retirement account (LIRA) – Saskatchewan only

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Great-West Life segregated funds plus

lifetime income benefit

A powerful combination

By combining a segregated fund policy with the lifetime income benefit, you get income for life as well as an investment portfolio tailored to suit your needs. With a minimum initial investment of $25,000, you can select from a variety of funds containing fixed income and equity investments.

You have the potential to build your investments while receiving secure income payments regardless of what happens to portfolio values.

You can add the lifetime income benefit to one of two Great-West Life segregated fund policies at any time.

• 75/75 guarantee policy • 75/100 guarantee policy

Choose your guarantee

You have the flexibility to choose the maturity and death benefit guarantees to protect you. This helps you tailor your investment solutions to fit your needs and financial goals.

access your savings at

any time

Segregated fund policies offer access to assets whenever needed. Certain fees or RRIF minimums, if applicable, may apply at the time of withdrawal. Withdrawals in excess of the annual guaranteed income amount will affect your lifetime income amount and make you ineligible for deferral bonuses.

benefits of segregated fund policies

Segregated fund policies are life insurance contracts. This means segregated fund policies have benefits and standard protection features, including:

Creditor protection potential – because segregated funds are part of an insurance policy, your policy may be

protected from creditors.

No trustee fees – if you choose a registered segregated fund policy, there are no trustee fees.

Estate bypass – upon notification of the last annuitant’s death, proceeds go directly to named beneficiaries,

if other than the estate, bypassing the delays and expense of the probate process.

75/75 guarantee

75/100 guarantee

75 per cent maturity guarantee and 75 per cent death benefit guarantee • You’re guaranteed to receive 75 per cent

of all premiums contributed, reduced proportionately by any withdrawals: – At the maturity guarantee date – On notification of death of

the last annuitant

75 per cent maturity and

100 per cent death benefit guarantee • At maturity guarantee date: 75 per cent

of premiums contributed, reduced proportionately by any redemption are guaranteed.

• On notification of death of the last annuitant: Up to 100 per cent of premiums contributed reduced proportionately by any withdrawals are guaranteed. Premiums contributed when youngest annuitant is age 80 or older are subject to a graded death benefit guarantee

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Fund Investment

manager Fund category Management style Fund objective Core portfolio solutions

Core Conservative Growth

Multiple

managers Managed fund solution Multiple styles • Focuses on providing interest income with the potential for capital appreciation by investing primarily in units of Canadian fixed income funds while investing a smaller portion in Canadian and foreign equity funds

• Allocates 30 per cent to equity investments and 70 per cent to fixed income investments

Core Moderate Multiple

managers Managed fund solution Multiple styles • Focuses on providing a balance between current income and long-term capital growth by investing primarily in units of Canadian fixed income funds, while investing a smaller portion in Canadian and foreign equity funds

• Allocates 40 per cent to equity investments and 60 per cent to fixed income investments

Core Moderate

Growth Plus Multiple managers Managed fund solution Multiple styles • Focuses on providing a balance between long-term capital growth and current income by investing in units of Canadian fixed income and Canadian and foreign equity funds

• Allocates 50 per cent to equity investments and 50 per cent to fixed income investments

Core Balanced Multiple

managers Managed fund solution Multiple styles • Focuses on providing a balance between long-term capital growth and current income by investing in units of Canadian fixed income and Canadian and foreign equity funds

• Allocates 60 per cent to equity investments and 40 per cent to fixed income investments

Core Balanced

Growth Plus Multiple managers Managed fund solution Multiple styles • Focuses on providing long-term capital growth by investing primarily in units of Canadian and foreign equity funds while investing a smaller portion in Canadian fixed income funds

• Allocates 70 per cent to equity and 30 per cent to fixed income investments

Partner solutions

Pyramis Moderate Income

Pyramis Managed fund

solution Multiple styles • Focuses on providing interest income with the potential for capital appreciation by investing in units of funds managed by Pyramis Global Advisors

• Invests primarily in fixed income funds, while investing a smaller portion in units of Canadian and foreign equity funds

• Allocates 35 per cent to equity and 65 per cent to fixed income investments

Franklin Templeton Moderate Income

Templeton Managed fund

solution Multiple styles • Focuses on providing interest income with the potential for capital appreciation by investing in units of funds managed by Franklin Templeton Investments

Select the right funds for you

With Great-West Life segregated fund policies, you can add the lifetime income benefit option to 28 eligible segregated funds.

Managed portfolio solutions

Great-West’s managed portfolio solutions combine several funds to create one investment vehicle, or fund of funds. With several options available, you can select a portfolio that best suits your risk tolerance. As well, you can choose a solution managed by multiple investment managers or one manager.

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Funds available with the lifetime income benefit option

Fund Investment

manager Fund category Management style Fund objective

Pyramis Moderate Growth

Pyramis Managed fund

solution Multiple styles • Focuses on providing a balance between long-term capital growth and current income by investing in units of Canadian fixed income and Canadian and foreign equity funds managed by Pyramis Global Advisors

• Allocates 45 per cent to equity and 55 per cent to fixed income investments

Franklin Templeton Moderate Growth

Templeton Managed fund

solution Multiple styles • Focuses on providing a balance between long-term capital growth and current income by investing in units of Canadian fixed income and Canadian and foreign equity funds managed by Franklin Templeton Investments

• Allocates 45 per cent to equity and 55 per cent to fixed income investments

Mackenzie Moderate Growth

Mackenzie Managed fund

solution Multiple styles • Focuses on providing a balance between long-term capital growth and current income by investing in units of Canadian fixed income and Canadian and foreign equity funds managed by Mackenzie Financial Corporation

• Allocates 45 per cent to equity and 55 per cent to fixed income investments

Pyramis Balanced Income

Pyramis Managed fund

solution Multiple styles • Focuses on providing a balance between long-term capital growth and current income by investing in units of Canadian fixed income and Canadian and foreign equity funds managed by Pyramis Global Advisors

• Allocates 55 per cent to equity and 45 per cent to fixed income investments

Franklin Templeton Balanced Income

Templeton Managed fund

solution Multiple styles • Focuses on providing a balance between long-term capital growth and current income by investing in units of Canadian fixed income and Canadian and foreign equity funds managed by Franklin Templeton Investments

• This fund typically allocates 55 per cent to equity and 45 per cent to fixed income investments

Mackenzie Balanced Income

Mackenzie Managed fund

solution Multiple styles • Focuses on providing a balance between long-term capital growth and current income by investing in units of Canadian fixed income and Canadian and foreign equity funds managed by Mackenzie Financial Corporation

• Allocates 55 per cent to equity and 45 per cent to fixed income investments

Mackenzie

Balanced Mackenzie Managed fund solution Multiple styles • Focuses on providing a balance between long-term capital growth and current income by investing in units of Canadian fixed income and Canadian and foreign equity funds managed by Mackenzie Financial Corporation

• Allocates 60 per cent to equity and 40 per cent to fixed income investments

CI Balanced

Income CI Managed fund solution Multiple styles • Focuses on providing a balance between long-term capital growth and current income by investing in units of Canadian fixed income and Canadian and foreign equity funds managed by CI Investments

• Allocates 55 per cent to equity and 45 per cent to fixed income investments

Portfolio funds

Conservative

Portfolio Fund Multiple managers Asset allocation Multiple styles • Invests mainly in fixed income investment funds and includes a small investment in Canadian and foreign equity investment funds and a portion of real estate

• Aims to invest 25 per cent in equity and 75 per cent in fixed income investments

Moderate

Portfolio Fund Multiple managers Asset allocation Multiple styles • Invests mainly in fixed income investment funds and includes a significant investment in Canadian and foreign equity investment funds and a portion of real estate

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Fund Investment

manager Fund category Management style Fund objective Portfolio funds (continued)

Balanced

Portfolio Fund Multiple managers Asset allocation Multiple styles • Focuses on achieving a balance between growth and income Underlying investment funds invest in a broad range of fixed income investments and equities issued by Canadian and foreign

corporations, real estate and in cash and short-term securities

• Aims to invest 60 per cent in equity and 40 per cent in fixed income investments

Income portfolio funds

Conservative Income Portfolio Fund

Multiple

managers Asset allocation Multiple styles • Invests mainly in fixed income investment funds and includes a small investment in Canadian and foreign equity investment funds and a portion of real estate

• Aims to invest 20 per cent in equity and 80 per cent in fixed income investments

Moderate Income Portfolio Fund

Multiple

managers Asset allocation Multiple styles • Focuses on providing interest income with the potential for capital appreciation by investing mainly in fixed income investment funds, but provides an opportunity for growth with equity funds

• Aims to invest 35 per cent in equity and 65 per cent in fixed income investments

Balanced Income Portfolio Fund

Multiple

managers Asset allocation Multiple styles • Focuses on providing long-term growth by investing primarily in units of Canadian and foreign equity funds and a consistent flow of income through a significant investment in fixed income funds

• Aims to invest 55 per cent in equities and 45 per cent in fixed income investments

Individual funds

Cash and cash equivalents

Money Market GWLIM Cash and cash

equivalents Not applicable • Focuses on providing interest income by investing primarily in Canadian fixed income securities, including Canadian government securities and corporate income producing securities maturing within one year

Balanced funds

Diversified GWLIM Balanced Top-down,

growth • Focuses on providing a balance between long-term capital growth and current income by investing in units of a broad range of investment funds, including Canadian and foreign shares, real estate, bonds, mortgages and short-term investments Equity/Bond GWLIM Balanced Top-down,

growth • Focuses on providing a balance between long-term capital growth and current income by investing primarily in Canadian fixed income securities and equities

• Aims for a long-term asset mix of 55 per cent shares of Canadian and foreign companies and 45 per cent fixed income securities Managed Laketon Balanced Top-down,

blend • Focuses on providing a balance between long-term capital growth and current income by investing primarily in Canadian fixed income securities and Canadian and foreign equities

• Targets a long-term asset mix of 30 per cent Canadian equities, 25 per cent global equities and 45 per cent fixed income securities Canadian

Balanced Mackenzie Balanced Bottom-up, blend • Focuses on providing a balance between long-term capital growth and current income by investing primarily in Canadian fixed income securities and equities

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Investment managers

A successful fund selection along with the income reset feature and bonuses can increase your guaranteed income. Great-West Life offers a multi-manager, multi-style lineup of segregated funds that gives you the flexibility to tailor a portfolio to meet your individual needs.

By investing with Great-West Life, you have some of the leading investment managers in the world managing your money.

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Glossary of terms

This section provides a brief definition of the terms associated

with the Great-West life lifetime income benefit. for a detailed

explanation and other details, please talk to your financial security

advisor or refer to the Great-West life information folder.

Annual guaranteed income amount is the maximum income you can take in a year without incurring an excess withdrawal. The annual guaranteed income amount is the greater of the lifetime income amount or RRIF minimum, if applicable.

Base for income bonus is a notional balance used to determine the deferral bonus amount applied to the lifetime income withdrawal base. This has no cash value.

Deferral bonus – five per cent of the base for income bonus is added to lifetime income withdrawal base when no withdrawals have been taken in any year. This has no cash value. Excess withdrawals are cumulative annual withdrawals in excess of the lifetime income amount, or RRIF minimum (if applicable). Excess withdrawals will decrease the lifetime income amount and clients will no longer be eligible for any future bonuses. Income resets – Increases in the market value of the policy, reset the lifetime income withdrawal base used to determine the lifetime income amount. Resets may occur every three years and your lifetime income amount will only be re-calculated upwards.

Lifetime income amount represents the annual guaranteed lifetime income and is the maximum amount that can be withdrawn each calendar year.

Lifetime income withdrawal base is a notional balance used to calculate the lifetime income amount and lifetime income benefit monthly fee. This has no cash value.

Single-life income provides you with guaranteed income for life with the potential for income resets.

Joint-life income provides you with guaranteed income until the last spouse dies with the potential for income resets, provided you don’t take an excess withdrawal.

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A description of the key features of the segregated fund policy is contained in the information folder.

Any amount that is allocated to a segregated fund is invested at the risk of the policyowner and may increase or decrease in value.

References

Related documents

The sub-fund aims to provide income and capital growth over the medium to long-term by investing primarily in global equities and global fixed income securities directly or

Medium – The fund aims to provide a combination of income and long-term capital growth by investing conservatively in a diversified portfolio of shares, bonds and other fixed

allocation multiple styles this fund’s objective is to provide a balance between current income and long-term capital growth by investing primarily in units of canadian fixed-

solution Multiple styles • Focuses on providing a balance between long-term capital growth and current income by investing in units of Canadian fixed income and Canadian

between long-term capital growth and current income by investing in units of Canadian fixed income and Canadian and foreign equity funds managed by Mackenzie Financial

The investment strategy of the fund is to provide medium to long-term growth (the combination of income and growth of capital) by investing mainly in a broad spread of

The investment strategy of the fund is to provide medium to long-term growth (the combination of income and growth of capital) by investing mainly in a broad spread of

this fund’s objective is to provide a balance between long-term capital growth and current income by investing in units of Canadian fixed income and Canadian and foreign equity.