RBC Payout Annuity Calculator

The Problems and Shortcomings

By Ivon T Hughes
rbc payout annuity calculator
Figure 1. RBC Payout Annuity Calculator

RBC's annuity calculator

The RBC annuity payout annuity calculator is one of the tools you can use to determine your annuity income. With most online tools there are some problems and shortcomings. Below is a list of the top problems we found with the RBC Payout Annuity Calculator.

The 9 problems and shortcomings of the RBC payout annuity calculator are:

  1. No purchase date field

  2. No Income start date field

  3. Rates can change daily - Their is no guarantee that you will receive that annuity rate.

  4. RBC Advisors who promote their products only

  5. No indexing, Impaired, Deferred or Reducing options.

  6. For informational Purposes only - should not be relied on for advice.

  7. Does not take provincial legislation into consideration when calculating the annuity payment.

  8. You're not comparing quotes
  9. Buying an annuity from your existing insurance provider or from any one company could mean taking a lower income than you could get by shopping around. Just because you bank at RBC does not mean that it is the best deal.

  10. RBC Consent Statement
  11. RBC Insurance® may use and share contact information submitted on this request with other RBC companies to promote to you products and services that may be of interest to you, unless prohibited by law. We and RBC companies may communicate with you through various channels, including telephone, computer or mail, using the contact information you have provided. By submitting this request you consent to such use and sharing.

Ivon T Hughes

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.

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Ivon T. Hughes - Annuity Broker

The Hughes Trustco Group | Website: LifeAnnuities.com | Email: info@trustco.ca | Toll Free: 877-842-3863