2020 Best Annuity Rates in Canada

Annuity Comparison Tables

2020 annuity rates
Figure 1. Annuity Rates 2020

Annuity Rates as of October 15, 2020

Single Life: Male

Single Life Female

Joint Life

The following monthly annuity rates are based on a premium of $100,000.00 of registered funds. Payments will commence in one month.

Annuity Rates as of October 15, 2020

Single Life: Male, no guarantee option

Company 55 60 65 70 75 80
BMO Insurance 376.98 421.38 485.18 583.04 674.24 866.56
Canada Life 364.38 401.66 455.23 532.11 647.67 820.38
Desjardins Fin. Security 374.37 417.47 476.08 559.14 671.72 822.37
Empire Life 355.47 398.79 457.45 537.11 643.45 -
RBC Life Insurance 360.12 392.93 446.67 527.45 651.93 853.88
Sun Life Assurance Co 342.08 394.40 474.00 566.24 680.73 860.10

Single Life: Male, 10 year guarantee option

Company 55 60 65 70 75 80
BMO Insurance 372.42 412.98 467.61 543.71 593.11 685.85
Canada Life 361.25 396.25 445.23 510.40 595.03 682.44
Desjardins Fin. Security 371.66 412.69 467.08 539.40 624.62 726.97
Empire Life 352.74 393.07 444.75 510.46 594.54 700.32
Equitable Life 377.10 419.99 476.30 547.98 611.21 680.11
RBC Life Insurance 359.93 415.65 473.25 545.17 612.22 726.66
Sun Life Assurance Co 339.75 389.41 462.08 539.17 616.22 703.95

Single Life: Female, no guarantee option

Company 55 60 65 70 75 80
BMO Insurance 354.19 392.52 436.73 517.59 583.25 750.13
Canada Life 340.65 370.48 415.85 475.88 560.70 676.60
Desjardins Fin. Security 350.36 387.81 437.95 507.11 598.46 731.19
Empire Life 331.13 366.07 413.63 480.39 577.31 -
RBC Life Insurance 341.70 368.30 414.95 481.47 581.48 742.34
Sun Life Assurance Co 325.47 369.17 432.17 514.40 618.92 775.58

Single Life: Female, 10 year guarantee option

Company 55 60 65 70 75 80
BMO Insurance 352.12 388.42 428.48 499.18 541.90 643.11
Canada Life 339.49 368.25 411.27 466.23 538.76 619.40
Desjardins Fin. Security 349.08 385.26 432.64 495.64 572.34 675.51
Empire Life 330.04 363.77 408.53 468.93 550.65 655.86
Equitable Life 355.91 392.44 437.22 502.52 566.91 638.19
RBC Life Insurance 339.83 389.04 433.00 499.57 557.40 667.48
Sun Life Assurance Co 323.86 365.74 424.49 497.07 576.25 666.07

Joint Life: no guarantee option

Company 55 60 65 70 75 80
BMO Insurance 322.17 351.36 383.35 445.73 485.80 606.23
Canada Life 303.67 342.93 373.31 422.36 492.28 591.98
Desjardins Fin. Security 321.92 352.00 392.60 449.07 522.86 639.84
Empire Life 305.66 333.00 369.91 421.03 494.16 -
RBC Life Insurance 306.26 335.36 373.39 424.15 499.93 620.08
Sun Life Assurance Co 289.04 325.50 383.23 441.27 514.21 630.97

Joint Life: 10 year guarantee option

Company 55 60 65 70 75 80
BMO Insurance 322.09 351.15 382.70 443.49 478.31 578.27
Canada Life 303.64 342.85 373.06 421.53 489.08 577.24
Desjardins Fin. Security 321.89 351.92 392.36 448.24 519.62 625.43
Empire Life 305.63 332.90 369.57 419.92 490.77 592.51
Equitable Life 324.98 354.03 390.77 446.57 500.94 576.42
RBC Life Insurance 308.52 347.69 392.30 445.64 510.79 611.46
Sun Life Assurance Co 289.01 325.39 382.81 439.75 508.00 605.05

*Manulife has discontinued external sales of individual fixed annuities.

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