5 Annuity Quote Examples

Company annuity illustrations

By Ivon T Hughes
annuity illustration
Figure 1. Annuity Illustration

How does an annuity work?

An annuity is a guaranteed stream of payments that will provide you with a regular income for your lifetime. You, nor your spouse if included, can outlive the income.

Below are 5 annuity illustration examples provided by the insurance companies.

  1. Annuity Example of a Single Life Malemale
  2. arrow Personal Information

    The annuitant is a male aged 68 years old. He is currently retired.

    arrow Source of Funds

    The annuitant lives in the province of British Columbia and has a RRSP account with TD Waterhouse. He does most of his investment transactions online. He has now transferred his stock into cash to purchase a life annuity.

    arrow General Information about the Contract

    The annuitant purchased a single life annuity with $147,000 from Industrial Alliance Insurance. The life annuity will provide a monthly income of $825.44 for his lifetime, he will never be able to outlive the income. The life annuity income will help cover his fixed costs such as food, rent, electricity in his retirement.

    arrow Annuity Illustration from Industrial Alliance

    Industrial Alliance Annuity Quote

    Prepared on: June 25, 2015
    Company: Industrial Alliance
    Type of annuity: Single Life, providing income for life
    Guarantee Period: 5 years
    Annuitant: Male, 68 years old
    Jurisdiction: British Columbia
    Source of funds: RRSP
    Premium: $147,000
    Monthly Income: $825.44

    Annuity Illustration: View and print annuity quote

  3. Annuity Example of a Single Life Female female
  4. arrow Personal Information

    The annuitant is a female aged 60 years old. She is in her pre-retirement phase.

    arrow Source of Funds

    The annuitant lives in the province of Ontario and has a RRSP account with the BMO InvestorLine. She is looking to transfer her funds into the money market to purchase a life annuity.

    arrow General Information about the Contract

    The annuitant purchased a single life annuity with $95,750 from Standard Life Insurance. She has several guarantee options to choose from but ultimately choses a 10 year option. The life annuity will provide a monthly income of $413.34 for her lifetime, she will never be able to outlive the income. Any remaining guaranteed payments at her death, are valued at a present day amount, taxed and the balance distributed to the heirs.

    arrow Annuity Illustration from Standard Life

    Standard Life Annuity Quote

    Prepared on: May 15, 2015
    Company: Standard Life Insurance
    Type of annuity: Single Life, providing income for life
    Guarantee Period: 10 years
    Annuitant: Female, 60 years old
    Jurisdiction: Ontario
    Source of funds: RRSP
    Premium: $95,750
    Monthly Income: $418.55

    Annuity Illustration: View and print annuity quote

  5. Annuity Example of a Joint Life malefemale
  6. arrow Personal Information

    The prime annuitant is a male aged 71 and the secondary annuitant is a female aged 60 years old. Both annuitants are retired.

    arrow Source of Funds

    Both annuitants live in the province of Ontario and he has a RRSP account with the TD Canada Trust. His funds have been transferred into cash to purchase a joint life annuity which they will never outlive.

    arrow General Information about the Contract

    The annuitants purchased a joint life annuity with $500,000 from Sun Life Financial (Money for Life). The life annuity will provide a monthly income of $2377.61 for their lifetime, and 20 years in any event. If one annuitant dies, the other will continue receiving a monthly income until their death.

    arrow Annuity Illustration from Sun Life Financial

    Sun Life Annuity Quote

    Prepared on: June 23, 2015
    Company: Sun Life Insurance
    Type of annuity: Joint Life, providing income for life
    Guarantee Period: 20 years
    Annuitant: Male 71 years old, Female 60 years old
    Jurisdiction: Ontario
    Source of funds: RRSP
    Premium: $500,000
    Monthly Income: $2377.61

    Annuity Illustration: View and print annuity quote

  7. Annuity Example of a Joint Life malemale
  8. arrow Personal Information

    The prime annuitant is a male aged 65 and the secondary annuitant is a male aged 65 years old. Both annuitants are retired.

    arrow Source of Funds

    The annuitants live in the province of Ontario and the prime annuitant has a RRSP account with the Standard Life Insurance. The annuitants are looking to transfer the funds into the money market while awaiting the purchase of a joint life annuity.

    arrow General Information about the Contract

    The annuitants purchased a joint life annuity with $250,000 from Canada Life. The joint life annuity will provide a monthly income of $1163.62 for their lifetime, which they will not outlive.

    arrow Annuity Illustration from Canada Life

    Canada Life Annuity Quote


    Prepared on: June 16, 2015
    Company: Canada Life
    Type of annuity: Joint Life, providing income for life
    Guarantee Period: 20 years
    Annuitant: Male 65 years old , Male 65 years old
    Jurisdiction: Ontario
    Source of funds: RRSP
    Premium: $250,000
    Monthly Income: $1163.62

    Annuity Illustration: View and print annuity quote

  9. Annuity Example of a Joint Lifefemalefemale

arrow Personal Information

The prime annuitant is a female aged 59 and the secondary annuitant is a female aged 60 years old. Both annuitants are approaching retirement.

arrow Source of Funds

The annuitants live in the province of Ontario and the prime annuitant has a RRSP account with Questrade. The annuitants are looking to transfer all of the funds into cash to purchase a joint life annuity.

arrow General Information about the Contract

The annuitants purchased a joint life annuity with $100,000 from Transamerica Life Insurance. The joint life annuity will provide a monthly income of $318.58 for their lifetimes.

arrow Annuity Illustration from Canada Life

Transamerica Annuity Quote

Prepared on: June 19, 2015
Company: Transamerica Life Insurance
Type of annuity: Joint Life, providing income for life
Guarantee Period: 10 years
Annuitant: Female 59 years old, Female 60 years old
Jurisdiction: Ontario
Source of funds: RRSP
Premium: $100,000
Monthly Income: $318.58

Annuity Illustration: View and print annuity quote

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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