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What sources of funds can be used to purchase an annuity?
Souces such as registered and non-registered funds
By Ivon T Hughes
Non-Registered Annuities can be purchased with:
Guaranteed Investment Certificates (GICs)
Tax Free Savings Account (TFSA)
Stocks, Mutual, and Segregated funds outside RRSP's
Registered Annuities can be purchased with:
Registered Retirement Savings Plan (RRSP)
Locked-in RSP (LRSP)
Registered Retirement Income Fund (RRIF)
Registered Pension Plan (RPP)
Life Income Fund (LIF)
Locked-in Retirement Income Fund (LRIF)
Restricted Locked-in Retirement Account (LIRA)
Deferred Profit Sharing (DPSP)
Prescribed Retirement Income Fund (PRIF)
Restricted Life Income Fund (RLIF)
About the Author
Ivon T. Hughes
Ivon T Hughes is a leading expert in life annuities in Canada. His website LifeAnnuities.com 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.