Canada Annuities Provide Peace of Mind

Annuities provide a series of monthly income payments for your lifetime.

By Ivon T Hughes
peace of mind
Figure 1. Peace of Mind

How does annuities provide peace of mind?

Let me show you how in Canada, annuities can provide security and peace of mind at a time of your life that means the most.

In Canada, annuities provide a series of monthly or annual income payments that will continue for the rest of your lifetime. You cannot outlive your income payments.

Canada annuities are a very simple retirement product. There are no more worries or stress of low interest rates and stock market crashes. So whether your funds are registered or non-registered, can provide annuity quotations and surveys from all the annuity companies in Canada.

In Canada, annuities are not just those policies which you buy to give yourself and family a guaranteed income in your retirement. There are different types of annuities.

The pension payment you receive from the Federal or a provincial government because of your age, is an annuity. It may be called "Old Age Security" or something similar but it is an annuity.

Likewise the income you get from your pension at work. It is called "your work pension" or "employee pension", but it is an annuity.

So in Canada, annuities come with different names and from different sources but, whatever they are called, they are annuities.

Don't run out of money after retirement consider buying an annuity.

Regional Interest in Canada Annuities

Canada Annuity Rates

Below are current annuity rates as of October 9, 2013.

The funds are registered with a no guarantee option, based on $100,000 premium.

Male Annuity Rates

Company Age 60 Age 65 Age 70 Age 75 Age 80
BMO Insurance 495.19 560.31 645.80 761.60 900.55
Canada Life 544.97 601.02 703.38 0.00 0.00
Desjardins Fin. 521.40 593.46 690.66 809.89 936.69
Empire Life 513.07 593.16 696.70 831.73 0.00
Great-West Life 544.97 601.02 703.38 0.00 0.00
London Life 544.97 601.02 703.38 0.00 0.00
Manulife 504.70 572.97 666.66 796.93 1,005.05
Standard Life 507.64 575.54 669.98 740.64 894.78
Sun Life Assurance 520.70 589.44 681.78 811.07 999.30

Female Annuity Rates

Company Age 60 Age 65 Age 70 Age 75 Age 80
BMO Insurance 455.79 507.30 574.17 668.82 796.25
Canada Life 500.29 544.81 615.43 0.00 0.00
Desjardins Fin. 469.89 526.66 605.39 707.14 839.78
Empire Life 468.10 528.53 609.25 721.66 0.00
Great-West Life 500.29 544.81 615.43 0.00 0.00
London Life 500.29 544.81 615.43 0.00 0.00
Manulife 468.75 525.90 602.18 709.07 874.89
Standard Life 474.06 529.47 608.26 685.80 838.94
Sun Life Assurance 484.07 541.21 616.63 722.98 881.05

What Experts Say About Canada Annuities?

Canada Life Annuities: An Optimal Product for Retirement Income

Moshe Milevsky, Author & Associate Professor of Finance
Pensionize Your Nest Egg

Annuities: A neglected way to buy peace of mind Rob Carrick

The Globe and Mail

Annuities: A neglected way to buy peace of mind

Surprise! Annuities beat RRIFsFred Vettese

The Financial Post

Surprise! Annuities beat RRIFs

Ivon T Hughes

About the Author

Ivon T. Hughes

Ivon T Hughes is a leading expert in life annuities in Canada. His website is a recognized authority on annuities. He's also an established insurance and investment broker, through The Hughes Trustco Group since 1972. Recently, he's been redefining how annuities are sold in Canada.


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Ivon T. Hughes - Annuity Broker

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