2021 Best Annuity Rates in Canada
Annuity Comparison Tables
What is a life annuity?
A life annuity provides you with a guaranteed lifetime income. You can think of a life annuity as a personal pension plan. Sometimes referred to as “single life annuity or a joint life annuity”.
For example: from the table below, if a male buys a life annuity for $100,000 at age 65 he will receive $499.36 a month from Equitable Life as long as he lives.
Annuity Rates as of June 28, 2021
The monthly income is based on a premium of $100,000.00 of registered funds with a 10 year guarantee period option. Payments will commence in one month.
Male Annuity Rates
| Company | 55 | 60 | 65 | 70 | 75 | 80 |
|---|---|---|---|---|---|---|
| BMO Insurance | 390.10 | 430.33 | 484.62 | 560.36 | 608.84 | 700.86 |
| Canada Life | 387.47 | 421.61 | 466.51 | 537.03 | 617.29 | 703.26 |
| Desjardins Fin. Security | 394.21 | 434.55 | 488.17 | 559.60 | 639.10 | 740.82 |
| Empire Life | 362.60 | 402.92 | 454.60 | 520.28 | 604.35 | 710.12 |
| Equitable Life | 403.68 | 447.55 | 499.36 | 564.00 | 630.69 | 691.98 |
| RBC Life Insurance | 379.62 | 444.34 | 496.36 | 571.85 | 630.52 | 738.41 |
| Sun Life Assurance | 360.74 | 408.56 | 478.92 | 553.33 | 627.82 | 713.49 |
Female Annuity Rates
| Company | 55 | 60 | 65 | 70 | 75 | 80 |
|---|---|---|---|---|---|---|
| BMO Insurance | 369.86 | 405.82 | 445.42 | 515.86 | 557.69 | 658.32 |
| Canada Life | 359.04 | 397.03 | 432.65 | 486.77 | 564.45 | 643.72 |
| Desjardins Fin. Security | 371.90 | 407.44 | 454.12 | 516.35 | 587.37 | 689.86 |
| Empire Life | 340.08 | 373.90 | 418.76 | 479.23 | 560.96 | 666.13 |
| Equitable Life | 383.82 | 419.65 | 462.00 | 523.94 | 589.70 | 659.63 |
| RBC Life Insurance | 360.53 | 416.31 | 458.87 | 526.83 | 576.78 | 685.35 |
| Sun Life Assurance | 345.49 | 385.77 | 442.46 | 512.54 | 589.06 | 676.47 |
Joint Life Annuity
| Company | 55 | 60 | 65 | 70 | 75 | 80 |
|---|---|---|---|---|---|---|
| BMO Insurance | 339.57 | 368.20 | 399.23 | 459.80 | 493.78 | 593.44 |
| Canada Life | 332.82 | 364.98 | 400.52 | 441.82 | 514.49 | 604.30 |
| Desjardins Fin. Security | 344.54 | 373.84 | 413.54 | 468.64 | 534.44 | 639.55 |
| Empire Life | 315.46 | 342.77 | 379.49 | 429.90 | 500.78 | 602.50 |
| Equitable Life | 352.70 | 380.93 | 414.18 | 465.71 | 521.97 | 589.79 |
| RBC Life Insurance | 337.58 | 376.06 | 419.16 | 472.88 | 533.23 | 629.56 |
| Sun Life Assurance | 311.06 | 346.01 | 401.61 | 456.04 | 521.59 | 616.18 |
*Manulife has discontinued external sales of individual fixed annuities.
This information is current as of the date and time posted and is subject to change without notice.