Answer: If your investments are not giving you a good return or you're eating up your RRIF funds, you won't have the capital to guarantee that you'll always have a cheque coming in on the 1st of the month. A life annuity guarantees you inomce for life. When you are older, it's too late to start saving

Answer: Enough to guarantee the income you want or whatever amount with which you are confortable.

Answer: Leaving your heirs income from a registered life annuity is a very iffy approach to leaving something of value. At the death of the first or second annuitant any remaining payments under a guarantee are assessed at a present day value, taxed and then distributed. As we don't know when death is coming this is speculative approach at best..Using a non registered life annuity is better where your heirs can be named as beneficiaries in the policy and payments can continue for the guarantee period. But again it is not ideal.

The best and cheapest way to leave money is through life insurance.

Answer: Ladder your purchases by buying peices at a time.

Answer: Go to Assuris.ca to find information on insolventcy

Answer: Divide your purchase among highly rated carriers.

Answer: LifeAnnuities.com can help you compare and achieve the best return for your money. They compare all the companies in Canada and email you the results within 24 hours.

Answer: Age 71

Answer: A life annuity is a swap, you provide a lump sum to an insurer, in exchange, they give you a steady stream of income for life.

Answer: A life annuity prevents you from being stripped of all your life savings.