Calculate how much capital is needed to fund a desired income stream, or project income from a given lump sum. Applies to Australian lifetime and term annuities.
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Australian lifetime annuities are sold by life insurance companies (Challenger, AIA, MetLife). From July 2019, certain annuities receive favourable Age Pension assets test treatment. The government-backed Pension Loans Scheme (now Home Equity Access Scheme) provides an income stream secured against property.