Wednesday, September 08, 2010
A male aged 65 has accumulated $250,000 in registered funds during his life time.
He now wishes to retire and predicts he will need $1500 monthly for the rest of his life to live confortably.
He chooses a 20 year guarantee in case he dies early, providing his beneficiaries with a steady income for the remaining years.
How much money does he need to invest to obtain the monthly income?
BMO: $246,722.68
Sun Life: $247,341.00
Manulife: $248,663.42
Canada Life: $256,422.64
Great West: $257,338.20
Desjardins: $259,896.71
Standard Life: $260,861.75
Empire Life: $264,913.82
Transamerica: $274,056.79
Client will choose BMO Insurance as it requires less money to invest. He's acculated suffient funds during his life time to retire at 65.
The annuity calculator compares all the annuity companies in Canada. It provides exact amounts not estimates.
From the example the client saved approximtely $28,000 from the most expensive company.
It is important to compare all the companies before you make a decison.
With our annuity calculator enter a monthly income you wish to receive for the rest of your life time and we'll provide the exact amount you need to invest.
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