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2023 Best Annuity Rates in Canada

Annuity Comparison Tables

2022 annuity rates
Figure 1. Annuity Rates 2023

Annuity Rates as of May 3, 2023

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 May 3, 2023

Single Life: Male, no guarantee option

Company 55 60 65 70 75 80
BMO Insurance 495.48 538.33 598.82 678.74 782.05 955.91
Canada Life 466.75 505.24 559.76 641.46 767.47 967.97
Desjardins Fin. Security 489.12 529.06 584.46 664.36 778.39 922.39
Empire Life 458.59 500.16 557.32 635.47 739.48 -
RBC Life Insurance 448.24 486.21 539.71 619.26 740.94 936.10
Sun Life Assurance 458.00 501.19 566.26 652.25 787.72 978.32

Single Life: Male, 10 year guarantee option

Company 55 60 65 70 75 80
BMO Insurance 492.11 529.80 587.00 654.43 707.47 794.59
Canada Life 462.34 497.91 546.86 614.71 705.51 811.53
Desjardins Fin. Security 485.27 522.66 573.14 641.70 725.78 823.32
Empire Life 454.80 492.68 541.60 604.12 684.89 787.15
Equitable Life 468.37 492.37 540.82 601.95 677.61 759.00
RBC Life Insurance 449.78 521.17 587.37 655.65 697.03 806.87
Sun Life Assurance 454.72 494.73 552.30 622.49 716.50 808.53

Single Life: Female, no guarantee option

Company 55 60 65 70 75 80
BMO Insurance 475.43 515.72 564.95 628.48 689.56 840.36
Canada Life 443.05 473.59 516.67 577.99 668.13 807.29
Desjardins Fin. Security 466.02 500.42 547.52 613.64 706.58 834.30
Empire Life 434.47 467.48 513.32 578.62 674.24 -
RBC Life Insurance 428.83 462.20 508.48 574.73 673.13 830.64
Sun Life Assurance 437.21 475.02 529.09 604.66 706.21 874.82

Single Life: Female, 10 year guarantee option

Company 55 60 65 70 75 80
BMO Insurance 472.77 506.15 553.67 613.36 657.25 753.57
Canada Life 441.39 470.47 510.66 565.91 641.93 740.98
Desjardins Fin. Security 464.13 496.87 540.58 599.56 676.26 774.59
Empire Life 432.89 464.30 506.68 564.52 643.39 745.20
Equitable Life 431.16 475.60 504.37 561.68 635.18 723.36
RBC Life Insurance 428.52 505.46 553.62 614.08 644.96 745.20
Sun Life Assurance 434.80 470.27 519.36 584.29 658.70 755.47

Joint Life: no guarantee option

Company 55 60 65 70 75 80
BMO Insurance 441.46 471.30 506.41 550.49 583.39 686.94
Canada Life 416.52 439.70 472.56 520.97 593.48 706.30
Desjardins Fin. Security 436.68 462.92 499.62 552.14 626.36 739.33
Empire Life 408.22 432.76 466.92 515.37 585.99 -
RBC Life Insurance 404.41 429.35 463.40 512.81 586.82 703.14
Sun Life Assurance 405.23 434.23 475.44 531.74 608.51 723.48

Joint Life: 10 year guarantee option

Company 55 60 65 70 75 80
BMO Insurance 441.94 467.54 506.02 556.10 592.24 689.05
Canada Life 416.47 439.58 472.23 519.94 589.71 689.68
Desjardins Fin. Security 436.64 462.81 499.31 551.14 622.69 724.11
Empire Life 408.18 432.63 466.48 514.04 582.17 681.06
Equitable Life 415.24 438.06 458.93 504.79 569.63 654.45
RBC Life Insurance 406.10 448.20 509.73 562.41 608.19 695.47
Sun Life Assurance 405.18 434.08 474.92 530.01 601.63 695.47

*Manulife has discontinued external sales of individual fixed annuities. Update Tables

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