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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 Jan 15, 2024

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 Jan 15, 2024

Single Life: Male, no guarantee option

Company 55 60 65 70 75 80
BMO Insurance 496.67 524.93 580.40 667.83 768.25 941.85
Canada Life 459.05 498.01 553.27 635.78 761.70 960.88
Desjardins Fin. Security 494.17 533.76 588.74 668.08 781.34 924.56
Empire Life 459.80 501.12 557.95 635.37 739.27 -
RBC Life Insurance 446.61 487.48 551.31 623.83 743.73 936.25
Sun Life Assurance 469.17 509.05 565.39 650.62 780.20 975.02

Single Life: Male, 10 year guarantee option

Company 55 60 65 70 75 80
BMO Insurance 485.69 521.87 575.45 641.71 696.95 784.61
Canada Life 454.82 490.94 540.74 609.67 700.99 807.24
Desjardins Fin. Security 490.31 527.36 577.45 644.93 729.20 826.55
Empire Life 456.07 493.77 542.51 604.89 685.62 788.03
Equitable Life 483.06 529.44 582.25 642.81 707.17 788.00
RBC Life Insurance 447.01 517.83 576.35 644.24 698.79 807.01
Sun Life Assurance 465.87 502.62 551.81 621.72 711.22 808.31

Single Life: Female, no guarantee option

Company 55 60 65 70 75 80
BMO Insurance 461.15 495.92 546.67 618.36 676.36 826.98
Canada Life 434.87 466.05 509.83 571.70 661.84 800.99
Desjardins Fin. Security 471.29 505.38 552.10 617.79 710.14 837.24
Empire Life 436.11 469.03 514.76 579.85 675.14 -
RBC Life Insurance 425.36 461.12 510.12 578.88 676.65 832.20
Sun Life Assurance 446.09 483.69 533.32 604.31 705.18 871.23

Single Life: Female, 10 year guarantee option

Company 55 60 65 70 75 80
BMO Insurance 472.18 504.43 548.10 606.91 652.17 748.73
Canada Life 433.27 463.05 504.01 559.96 636.28 736.08
Desjardins Fin. Security 469.38 501.43 545.17 603.75 680.01 778.04
Empire Life 434.54 465.89 508.19 565.91 644.66 746.46
Equitable Life 459.60 469.96 543.88 601.93 666.82 753.39
RBC Life Insurance 425.28 499.73 543.16 601.84 647.19 751.43
Sun Life Assurance 443.64 478.87 523.59 584.25 658.46 753.90

Joint Life: no guarantee option

Company 55 60 65 70 75 80
BMO Insurance 439.69 463.84 469.98 543.53 573.73 677.41
Canada Life 408.30 431.97 465.81 514.86 588.22 700.88
Desjardins Fin. Security 442.08 468.00 504.33 556.41 630.07 742.38
Empire Life 409.98 431.69 465.91 514.46 585.05 -
RBC Life Insurance 400.67 426.75 465.05 517.39 590.50 706.26
Sun Life Assurance 417.84 441.98 476.63 531.61 607.86 722.25

Joint Life: 10 year guarantee option

Company 55 60 65 70 75 80
BMO Insurance 441.35 465.82 500.48 549.68 587.18 684.17
Canada Life 408.26 431.86 465.50 513.86 584.56 684.73
Desjardins Fin. Security 442.03 467.89 504.02 555.42 626.46 727.41
Empire Life 407.05 431.57 465.50 513.19 581.35 680.24
Equitable Life 430.38 463.62 500.70 545.49 599.71 684.14
RBC Life Insurance 402.60 443.36 500.76 551.51 605.64 697.02
Sun Life Assurance 417.79 441.82 476.13 529.94 601.20 695.04

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

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