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Empower was created in 1891, when parent company Great-West Lifeco was founded as an insurance provider on the Canadian prairie. [1] After serving more than a century of expansion and a profound evolution of service offerings, the modern iteration of Empower was launched in 2014, when the retirement businesses of Great-West Life combined the record-keeping services of Great-West Financial ...
Headquarters of American division Great-West Life & Annuity Insurance Company, Greenwood Village, Colorado Great West Life & Annuity Insurance Company is a company that provides individuals and businesses in all of the USA's states with life insurance, retirement benefits (which are paid for by employers) and annuities distributed by its own brokers and institutions.
In 2003, Great-West Lifeco acquired Canada Life Financial, which later emerged, along with Great-West Life Assurance Company, for US$4.7 billion. [20] Great-West Life sold its health insurance US division to Cigna for US$1.5 billion in a deal announced on November 26, 2007. Great-West was seeking to expand into the western United States. [21]
Many annuity companies have relatively low minimum premiums, often as low as $2,500 to $5,000 for some types of fixed annuities and around $10,000 to $15,000 for variable annuities.
Notify the annuity company: Contact the insurance company that issued the annuity. Provide them with your contract number and clearly state your intention to cancel the contract.
Unlike more familiar financial products, annuities come with their own rules, risks and safety nets — all of which vary depending on where you live and the type of annuity you buy.