Single or Joint Annuity?

Which is best?

By Ivon T Hughes
single or joint annuity
Figure 1. Single or Joint Annuity?

The annuity calculator below will provide you with an estimate of your annuity income based on your own life expectancy, given your age and sex. Annuities issued with just one life expectancy in mind are called single life annuities.

However, many of our clients want to structure an income that will continue for as long as their surviving spouse lives. That is, they want a guaranteed lifetime income that will never run out as long as either one of them lives. For this, you would use something called a joint life annuity.

A joint life annuity is just an annuity calculated using the combined life expectancies of two individuals to calculate a guaranteed payout, instead of just one. The income will usually be slightly lower than you would get with a single life annuity. But it’s designed to last for a longer period of time: As long as either one of you lives – guaranteed.

No other financial product on the market can make such a promise.

If you want to know what income a joint life annuity will generate for you, or if you simply want to discuss how you can create a lifetime of financial security for your spouse or yourself, long after one of you is gone, calculate your annuity income below or give us a call today, at 1-877-842-3863 from anywhere in Canada.

Annuity Calculator


About the annuity calculator:

Disclaimer:This online calculator is for illustration and general informational purposes only and should not be relied upon for advice. The figures this online tool provides are estimates only. They are not intended to be and should not be construed as binding offers.

The final and exact amounts of income you will receive will be determined by the annuity issuing company and written into the annuity contract. The contract, not this calculator, is the governing document.

The results you receive from this tool are products of the accuracy and completeness of the information you enter. Hughes Trustco updates prevailing interest rates and insurance company offering rates once each month. But tax laws, interest rates and market conditions are subject to change without notice.

The information and strategies on this site are provided for your general guidance and for informational purposes only. It is based on information we believe to be accurate, but

Hughes Trustco/ cannot guarantee accuracy nor completeness as it applies to your specific individual situation. Hughes Trustco/ makes no warranties, express or implied, as to the accuracy or completeness of the information on this page. Further, in using this online calculator, you agree that Hughes Trustco/ shall not be liable for any losses or damages arising from errors or omissions in the information provided, or arising from any decision made on your part in reliance on information from this online calculator.

The calculator is not intended to be tax, legal or investment advice. Retirement, income and annuity planning are highly fact dependent, and require an individualized financial needs assessment. To ensure that the plans, products and strategies herein apply to your specific circumstances, you should additionally seek the services of a qualified and licensed professional.

Phil Barker

About the Author

Phil Barker

Phil Barker is a leading expert on life annuities in Canada. has different financial products and has been a recognized authority since 1972.


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