2023 Best Annuity Rates in Canada

Annuity Comparison Tables

2022 annuity rates
Figure 1. Annuity Rates 2023

Annuity Rates as of Feb 1, 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 Feb 1, 2023

Single Life: Male, no guarantee option

Company 55 60 65 70 75 80
BMO Insurance 480.67 523.77 584.42 670.12 776.29 950.05
Canada Life 407.60 449.85 508.91 595.46 725.65 930.43
Desjardins Fin. Security 486.28 526.29 581.77 661.72 775.80 919.93
Empire Life 466.59 508.16 565.37 643.58 747.58 -
RBC Life Insurance 452.09 490.67 545.04 626.01 749.84 947.35
Sun Life Assurance 451.53 495.01 560.16 646.06 781.16 971.10

Single Life: Male, 10 year guarantee option

Company 55 60 65 70 75 80
BMO Insurance 477.57 515.67 573.25 641.18 702.45 789.83
Canada Life 403.98 443.63 497.54 571.04 667.34 779.56
Desjardins Fin. Security 482.46 519.94 570.51 638.54 723.37 821.03
Empire Life 462.71 500.51 549.35 611.74 692.32 794.30
Equitable Life 484.89 530.26 581.05 623.47 700.86 779.09
RBC Life Insurance 452.07 522.73 581.11 642.36 704.02 813.84
Sun Life Assurance 448.32 488.66 546.39 616.66 710.63 802.64

Single Life: Female, no guarantee option

Company 55 60 65 70 75 80
BMO Insurance 460.56 501.14 553.51 628.48 684.05 834.78
Canada Life 383.77 418.35 465.90 531.89 626.48 769.87
Desjardins Fin. Security 463.16 497.64 544.80 610.99 704.00 831.82
Empire Life 442.37 475.33 521.15 586.46 682.14 -
RBC Life Insurance 432.01 465.95 512.92 580.00 680.13 839.92
Sun Life Assurance 430.74 468.88 523.11 598.65 700.01 868.08

Single Life: Female, 10 year guarantee option

Company 55 60 65 70 75 80
BMO Insurance 458.05 491.85 539.78 602.62 652.17 748.73
Canada Life 382.42 415.74 460.68 521.03 602.16 706.65
Desjardins Fin. Security 461.28 494.11 537.91 596.99 673.79 772.24
Empire Life 440.75 472.08 514.38 572.13 650.87 752.45
Equitable Life 461.25 494.64 539.57 583.28 674.39 743.22
RBC Life Insurance 431.70 491.88 539.66 603.32 650.87 757.58
Sun Life Assurance 428.38 464.22 513.53 578.55 653.00 749.73

Joint Life: no guarantee option

Company 55 60 65 70 75 80
BMO Insurance 426.74 456.99 495.33 550.49 578.30 681.92
Canada Life 354.24 380.51 417.91 471.16 548.69 666.28
Desjardins Fin. Security 433.83 460.17 496.96 549.58 623.89 736.94
Empire Life 416.10 440.55 474.68 523.22 593.90 -
RBC Life Insurance 407.44 432.57 467.21 517.39 592.59 711.23
Sun Life Assurance 398.65 428.13 469.64 526.08 602.82 717.54

Joint Life: 10 year guarantee option

Company 55 60 65 70 75 80
BMO Insurance 427.21 453.29 492.21 545.42 587.18 684.17
Canada Life 354.20 380.42 417.64 470.25 545.25 650.59
Desjardins Fin. Security 433.79 460.06 496.65 548.58 620.24 721.75
Empire Life 416.06 440.42 474.24 521.88 590.03 688.84
Equitable Life 431.90 464.06 499.05 526.22 607.18 674.94
RBC Life Insurance 409.16 444.31 495.80 549.77 607.09 701.67
Sun Life Assurance 398.60 427.98 469.14 524.37 596.01 689.90

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

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