Can I use my living annuity as collateral for a loan?


Question:

My RA pays 17% of the value each year. Can I take a loan against this amount

Answer:

Maggie, That sounds like a living annuity (post-retirement product), not a retirement annuity (pre-retirement product). But the answer is no, you cannot use your living annuity as collateral for a loan.

The information and answers supplied in this section do not constitute advice as defined by the Financial Advisory and Intermediary Services Act, 37 of 2002.


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