Argus Online Applications

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.

How Does It Work?

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

Male Female

Select Start Date of Annuity

Age 55 (Early Retirement)

Age 65 (Normal Retirement)

Select Date (DD/MM/YYYY)

Type of Lifetime Annuity

Instructions

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.

Item	Value
Date of Estimate	May 01, 2024
Annuitant
Date of Birth	January 01, 1964
Gender	Male
Start Date of Annuity	January 01, 2029
Annuity Estimate
Monthly annuity income	1,000
Premium Amount
Life Only	181,412
Life 5 Years Guaranteed	182,814
Life 10 Years Guaranteed	187,987
Life with Cash Refund	212,027

Annuity Payment Options

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.