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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 Sep 13, 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 Sep 13, 2023

Single Life: Male, no guarantee option

Company 55 60 65 70 75 80
BMO Insurance 506.45 548.94 609.09 688.71 800.38 974.09
Canada Life 484.73 523.92 605.40 662.66 789.91 992.01
Desjardins Fin. Security 509.89 549.60 604.73 684.30 797.95 940.75
Empire Life 487.39 528.47 585.21 662.92 765.95 -
RBC Life Insurance 470.86 508.78 562.37 642.31 765.14 962.73
Sun Life Assurance 504.17 546.48 605.40 693.30 825.56 1023.10

Single Life: Male, 10 year guarantee option

Company 55 60 65 70 75 80
BMO Insurance 508.75 545.81 599.58 666.34 723.66 809.77
Canada Life 480.16 516.33 566.53 635.21 726.73 833.55
Desjardins Fin. Security 508.96 542.87 592.90 660.20 744.03 840.50
Empire Life 483.25 520.40 568.47 629.90 709.31 809.92
Equitable Life 508.62 550.22 596.67 649.47 72112 793.33
RBC Life Insurance 470.68 538.36 600.38 668.04 719.88 829.66
Sun Life Assurance 500.47 539.32 590.34 661.59 751..34 845.47

Single Life: Female, no guarantee option

Company 55 60 65 70 75 80
BMO Insurance 486.50 526.96 575.24 638.21 707.26 857.81
Canada Life 460.16 491.70 536.17 598.47 689.40 829.61
Desjardins Fin. Security 486.75 520.96 567.82 633.64 726.18 852.92
Empire Life 463.14 495.50 540.72 605.40 700.30 -
RBC Life Insurance 451.51 484.82 531.11 597.27 696.51 855.63
Sun Life Assurance 479.26 519.23 571.20 644.46 747.54 916.23

Single Life: Female, 10 year guarantee option

Company 55 60 65 70 75 80
BMO Insurance 483.74 522.45 566.49 625.51 673.70 769.01
Canada Life 458.43 488.48 529.95 586.03 662.60 762.30
Desjardins Fin. Security 484.74 517.20 560.54 619.00 694.95 792.24
Empire Life 461.41 492.06 533.61 590.49 668.18 768.48
Equitable Life 482.86 511.33 563.98 607.97 680.79 766.79
RBC Life Insurance 451.08 522.14 566.86 626.73 665.82 774.00
Sun Life Assurance 476.56 513.94 560.55 622.67 697.39 792.42

Joint Life: no guarantee option

Company 55 60 65 70 75 80
BMO Insurance 452.55 481.93 516.53 560.06 600.06 703.00
Canada Life 433.01 457.02 490.95 540.32 613.42 726.79
Desjardins Fin. Security 457.21 483.14 519.48 571.58 645.26 757.56
Empire Life 436.97 460.74 494.18 542.06 612.09 -
RBC Life Insurance 427.04 451.46 485.35 534.66 608.83 726.26
Sun Life Assurance 449.27 475.50 512.24 569.31 647.19 762.85

Joint Life: 10 year guarantee option

Company 55 60 65 70 75 80
BMO Insurance 453.02 483.91 519.96 569.56 610.07 706.22
Canada Life 432.97 456.90 491.62 540.47 611.09 711.94
Desjardins Fin. Security 457.16 483.02 522.45 573.89 644.87 745.43
Empire Life 436.93 460.60 495.50 542.37 609.83 707.94
Equitable Life 456.23 484.58 518.97 554.01 616.16 699.72
RBC Life Insurance 428.75 467.13 524.78 576.60 627.53 719.10
Sun Life Assurance 449.22 475.33 514.95 570.77 643.32 737.43

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

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