Annuity Calculator

An annuity is a contract with a life insurance company to provide periodic income for life. The purchase price of the annuity contract depends on your age, monthly income, guarantees and current interest rates.


This calculator provides an estimate of the premium required to provide a specified level of income, or the monthly income that a lump sum will provide. Remember that these are estimates and that annuity premium rates fluctuate over time based on current interest rates.

To get a sense of the cost of annuities, complete the information and click the Update Results button.

To obtain an actual quote, contact Argus Pensions at 298-0800 or email us at pensions@argus.bm.

Data Input

Annuitant

Date of birth (DD/MM/YYYY)

Gender
  

Select Start Date of Annuity




Type of Lifetime Annuity



This calculator provides an estimate of the premium required to provide a specified level of income, or the monthly income that a lump sum will provide. Remember that these are estimates and that annuity premium rates fluctuate over time based on current interest rates.

Results

Annuity Information

Below are estimated lump sum premiums for each type of pension that will provide an income of $1,000.00 per month. These annuities have no annual cost-of-living increases.

This estimate is for illustration purposes only based on certain assumptions and is not intended to be a quote or guarantee. To obtain an actual quote, contact Argus Pensions at 298-0800 or email us at pensions@argus.bm.

ItemValue
Date of EstimateOctober 01, 2022
Annuitant 
Date of BirthJanuary 01, 1962
GenderMale
Start Date of AnnuityJanuary 01, 2027
Annuity Estimate 
Monthly annuity income1,000
Premium Amount 
Life Only182,927
Life 5 Years Guaranteed184,341
Life 10 Years Guaranteed189,557
Life with Cash Refund213,798


Life annuity with no guarantee — A fixed pension is payable to you for as long as you live. Nothing further is payable after your death.

Life annuity with five years guaranteed — A fixed pension is payable for as long as you live, but if you die before receiving payments for five years, the pension is payable to your beneficiary for the remainder of the guarantee period.

Life annuity with ten years guaranteed — A fixed pension is payable for as long as you live, but if you die before receiving payments for ten years, the pension is payable to your beneficiary for the remainder of the guarantee period.

Life annuity with cash refund — A fixed pension is payable for as long as you live. Upon your death, you beneficiary will receive the difference, if any, between the total monthly payments made to you and the initial amount paid to purchase the annuity.