2023 Best Annuity Rates in Canada

Annuity Comparison Tables

2022 annuity rates
Figure 1. Annuity Rates 2023

Annuity Rates as of April 28, 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 April 28, 2023

Single Life: Male, no guarantee option

Company 55 60 65 70 75 80
BMO Insurance 445.39 485.60 544.69 612.22 661.16 750.61
Canada Life 459.18 491.75 542.02 614.66 701.91 794.65
Desjardins Fin. Security 460.35 499.57 552.35 623.08 708.40 807.56
Empire Life 452.49 491.75 542.21 606.52 689.36 792.61
Equitable Life 465.45 503.99 558.10 626.18 704.91 782.39
RBC Life Insurance 426.92 500.80 555.27 623.95 682.89 795.65
Sun Life Assurance 435.34 477.07 535.87 606.78 699.88 789.30

Single Life: Male, 10 year guarantee option

Company 55 60 65 70 75 80
BMO Insurance 445.39 485.60 544.69 612.22 661.16 750.61
Canada Life 459.18 491.75 542.02 614.66 701.91 794.65
Desjardins Fin. Security 460.35 499.57 552.35 623.08 708.40 807.56
Empire Life 452.49 491.75 542.21 606.52 689.36 792.61
Equitable Life 465.45 503.99 558.10 626.18 704.91 782.39
RBC Life Insurance 426.92 500.80 555.27 623.95 682.89 795.65
Sun Life Assurance 435.34 477.07 535.87 606.78 699.88 789.30

Single Life: Female, no guarantee option

Company 55 60 65 70 75 80
BMO Insurance 419.56 457.12 502.11 575.85 638.03 793.62
Canada Life 428.72 470.78 511.23 580.54 672.42 800.80
Desjardins Fin. Security 440.27 475.35 525.60 594.62 689.43 822.72
Empire Life 431.35 465.69 513.26 580.91 680.16 -
RBC Life Insurance 407.29 440.61 487.63 555.47 656.81 820.19
Sun Life Assurance 417.24 456.71 512.23 589.22 692.56 862.73

Single Life: Female, 10 year guarantee option

Company 55 60 65 70 75 80
BMO Insurance 425.30 460.49 505.11 567.31 610.58 709.82
Canada Life 427.03 467.51 504.92 536.67 644.17 729.85
Desjardins Fin. Security 438.40 472.80 518.83 567.65 657.45 758.49
Empire Life 429.72 462.38 506.30 556.09 647.22 750.61
Equitable Life 436.51 474.12 519.94 581.76 660.01 746.42
RBC Life Insurance 407.14 470.90 516.83 579.04 629.09 738.20
Sun Life Assurance 414.86 451.96 502.39 568.27 643.01 737.88

Joint Life: no guarantee option

Company 55 60 65 70 75 80
BMO Insurance 385.70 413.27 444.90 499.25 534.09 642.42
Canada Life 396.59 434.59 468.79 515.81 594.23 706.78
Desjardins Fin. Security 410.36 438.25 476.98 532.14 607.72 726.23
Empire Life 404.34 430.04 465.69 516.08 589.53 -
RBC Life Insurance 382.53 408.41 443.19 493.80 570.17 691.24
Sun Life Assurance 384.54 415.46 458.41 516.27 594.45 710.57

Joint Life: 10 year guarantee option

Company 55 60 65 70 75 80
BMO Insurance 394.07 421.59 457.28 509.82 545.55 645.42
Canada Life 396.55 434.47 468.43 514.67 589.98 687.96
Desjardins Fin. Security 410.38 438.13 476.64 531.05 603.62 708.88
Empire Life 404.30 429.91 465.22 514.65 585.29 686.87
Equitable Life 411.38 436.60 474.88 527.28 596.53 678.89
RBC Life Insurance 384.30 425.73 474.14 526.01 554.58 682.33
Sun Life Assurance 384.49 415.30 457.87 514.39 586.93 680.28

*Manulife has discontinued external sales of individual fixed annuities.

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