Guaranteed Annuity

5 Big Factors That Affect Life Annuity Rates

You’re in the market for a life annuity policy, but you want to ensure you get the best rates possible.

Although your rates are determined at the time of application, you can use an annuity income calculator to find out what your approximate income might be.

Annuity rates can fluctuate depending on various factors.

So what are the biggest factors? Let’s discuss the 5 biggest factors that affect life annuity rates.

  1. Life Expectancy

There are many components that help determine your life expectancy when applying for a life annuity policy.

Serious Health Issues

Like most insurance companies, they want to know if you have serious (especially life-threatening) health issues.


Women live longer than men, so it makes sense that women receive less income from annuity policies, due to a longer life expectancy.


Age will always be a deciding factor. The older you are, the higher the amount of income you’ll receive monthly.

  1. Length of The Policy Affects Annuity Rates

It’s your choice how long you receive payments from an annuity policy.

Basically, the greater amount of years you’re covered, the less money you’ll receive monthly. And the shorter amount of years, the larger amount you’ll receive.

Plus, you have the option to keep the payments coming after your death. These will be passed onto your children.

  1. The Amount Of Payment You Deposit or Transfer

Like many things in life, you get what you pay for.

The larger the lump sum you provide initially, the greater the income you’ll get back monthly as a result.

  1. Single Or Joint Policy

This factor makes a monumental difference in your annuity rates.

There are pros and cons to each option, and it all depends on your unique situation.

If you have a spouse, you may want to consider a joint policy because joint policies will pay out to the last survivor.

But if you don’t have children and live alone, the obvious choice would be to buy a single policy. Plus, the monthly payout is larger for single policies.

  1. Additional Options Added To Policy

Normally, annuity payments are fixed, but if you are concerned about inflation, you may choose to have annuity payments indexed. You can choose to have income increase each year by a fixed percentage to help offset the impact of inflation.


Annuity policy plans are an excellent retirement option that is often overlooked.

Annuity policies provide flexibility and peace of mind knowing that you are covered financially for the rest of your life.

What more could you ask for?

If you have any questions regarding an annuity plan, feel free to reach out and contact us.

Retirement Plan

5 Retirement Planning Secrets for a Comfortable Life

The majority of Canadians are simply not prepared for retirement. And for those without employer pensions, the problem is even worse, since the Canadian Pension Plan does not provide enough to avoid poverty without other savings.

If you’re among the many Canadians who haven’t planned enough for retirement, don’t despair.

In this article, we’ll share some of the best retirement planning secrets. With the right plan, you’ll be right on track for a happy, comfortable retirement.

  1. An RRSP Makes Retirement Planning Easy

If you have any spare cash for an RRSP, enroll as soon as you can. A Registered Retirement Savings Plan (RRSP) lets you grow your money tax-free, which makes it much easier to save.

You’ll only pay tax when you remove the money in your retirement. Your tax rate at this time should be lower.

You can set up an RRSP at any bank, insurance company or trust company.  It’s better to start saving sooner than later. RRSPs have an annual contribution limit, so it’s better to add to it regularly.

  1. Check Your Employer Offerings

Many employers offer help for employees planning for their retirement.

They may provide a bonus to employees buying stock, adding to its value. Or, they may have an optional retirement plan where they add to your contributions.

This is basically free money for your retirement. Employers are happy to offer these programs to encourage employees to stay with the company. You owe it to yourself to use these programs!

Talk to your HR department to see what your options are.

  1. Save As Much As Possible

Retirement planning can be easy to put off because it seems so far away. The truth is, it is never too early to start preparing.

It may seem obvious, but the best way to prepare for retirement is to save!

Keep a monthly and annual budget plan that includes contributions to your retirement savings. While this may mean cutting down on some luxuries now, it will be worth it in the long run.

  1. Take On a Part Time Job

More and more retirees are taking on part-time work. The money is a major reason, but it isn’t the only one.

A part-time job can reduce a lot of retirees’ stress about money. Knowing you have an income besides your pension and savings makes it a lot easier to feel good about your finances. You can also keep certain employee benefits too, like dental coverage.

Plus, many retirees choose to work simply because they enjoy it. Having a part-time job in retirement can allow you to still live a retired lifestyle while having the mental, physical, and social benefits of working.

  1. Add To Your Retirement Income With An Annuity

An annuity can make it much easier to live comfortably in retirement.

It is another form of investment where you invest now in order to get paid back monthly later in life.

You could set up an annuity for your retirement. It is like receiving a monthly paycheque to supplement your pension plan.


Retirement planning doesn’t have to be daunting!

With these five tips, you can get ready for a comfortable retirement, without having to stress too much about your savings.

Do you have more questions about getting retirement-ready today? Contact us for more information!

Guaranteed Annuity

My Comments to: Seven smart things the wealthy do with their money

Ms Wright isolates some great measures in her article “SEVEN SMART THINGS THE WEALTHY DO WITH THEIR MONEY.

None of them is complicated or in any way difficult. They are just simple-to-do everyday things. You don’t have to be “somebody” to follow this simple money management plan.

And as we are now at tax time,her point about annuities is especially relevant. Non registered annuities, whether income is taken now or delayed, uses your age or ages, to guarantee a lifetime income. Either registered or non registered annuities can be prescribed, to give you peace of mind with the same monthly payment.

And the last point about hiding money from yourself is also important. If funds are automatically diverted from your account, you’ll not miss them until you need them.

Guaranteed Annuity

From Ottawa, Metro: Consider annuities for a secure retirement income.

An interesting article from Sun Life explaining the virtue of a life annuity as guaranteed income.

But there should be no set arbitrary amount or percentage to invest. We live in very volatile times, politically and financially, and people are scared and worried about the future. The US which dominates our business landscape, is locked in an election where the majority of people hope that no one wins!

If you have sufficient guaranteed income from an employer and the government and feel you can handle it,jump into a RRIF with investment funds. But don’t put money in there that you will possibly need to top up your income down the road.

When money, and therefore income, is lost at the latter stages of your life, you don’t have the time to replace it.

Read full article from Ottawa Metro by Talbot Boggs – Consider annuities for a secure retirement income.

consider annuities for a retirement income

Use our Annuity Calculator to instantly calculate your annuity income online. To find out approximately how much Guaranteed Income For Life you can receive.

Guaranteed Annuity

Annuity Broker: Canadian Independent Annuity Broker

Talk to an independent annuity broker who can advise you on Canadian Annuities and how they can fit into your retirement plan.

annuity broker
Ivon T Hughes annuity broker since 1972.

Ivon T. Hughes is a Canadian annuity broker who represents all the annuity companies in Canada and has been in business since 1972. Call Ivon toll free in Canada  1-877-842-3863 or 514-842-9001 from U.S and internationally.

Why Use an Independent Annuity Broker?

Annuity policies can only be purchased from an insurance agent or broker.  It also makes more sense to use an independent annuity broker to do the shopping and the research for you. In addition, insurance agents only represent one company and are tied to selling their annuity products.

An independent annuity broker can get you annuity rates from all the life insurance companies. The following is a list of Canadian insurance companies that sell life annuities in Canada.

An Annuity Broker’s List of Companies Should Consist of the following:

1. BMO Insurance
2. Canada Life Assurance Company
3. Desjardins Financial Security
4. Empire Life Insurance
5. Equitable Life
6. Great-West Life
7. Industrial Alliance
8. ivari (formerly Transamerica)
9. La Capitale
10. Manulife Financial
11. RBC Insurance
12. Standard Life (now Manulife)
13. Sun Life Financial

Ask Ivon T Hughes to find you the best annuity deal for you. We’ll shop the market and send you all the annuity rates. Furthermore, the services provided are free of charge and you’re under no obligation to buy any of the quotes you receive.

If you would like more information on annuities please use our contact us page and request a call from Ivon T Hughes. In addition, you can also complete our online annuity quote form and we’ll get back to with an annuity illustration.

Advertising Newsprint: 1986 The Montreal Gazette

Independent Annuity Broker Ivon T. Hughes
Ivon T Hughes is an independent annuity broker.
Guaranteed Annuity

Countdown to January 1, 2017 – When Prescribed Annuities Tax Changes Take Effect

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To beat the clock if you want to avoid the 2017 tax rule changes for prescribed non-registered annuity payments, you need to buy before 2017 rolls around. The higher taxable portion will result in higher taxation, so you need to buy now.

What is actually happening is that the federal government tax changes, made under the income tax act, are increasing due to the discarding of the 1971 life expectancy tables. There will be grandfathering for those who do not want to commence payments until 2017,  so it is apparent there are great benefits in annuitizing before January 1st, 2017.

Act now and get a prescribed annuity quote.


Guaranteed Annuity

Annuity Deadline Approaching for Registered & Non-Registered Annuities

We are fast approaching a deadline for any annuity business you want to do this year.

Annuity Deadline January 1, 2017

While the official cutoff date for annuities to be issued by January 1st, 2017  the practical date is a lot earlier.

All the people who have turned 71 this year and have not bought a RRIF or a registered annuity, turn up in the tens of thousands at year end. You know who you are; you’re waiting for rates to go up or for the stock market to settle down.

Neither will happen. And for your peace of mind you don’t need to worry whether your money will be clogged up and not transferred in time for you to avoid paying tax on all the capital. It has happened and it will happen again to those who do not properly plan.

And on top of all that, the same applies this year to buyers of non-registered prescribed annuities who must annuitize before January 1, 2017  to avoid increased taxation, even if starting the income later.

So this blog is a shot across the bow. If you have any intention of getting an annuity, the time is now. Complete our annuity quote form and we’ll provide a personal annuity illustration.

Thank you,

Ivon T Hughes
The Hughes Trustco Group
Toll free: 877-842-3863

Guaranteed Annuity

Buying an annuity? You don’t have to do it alone.


Do you know the best way to make sure that you receive the highest monthly annuity payment?

Don’t do it alone!

That’s right. You don’t have to go at it by yourself and guess what to do!

We have access to ALL the annuity companies and have made them part of our Annuity Team here, so that we can help you get the highest possible monthly income.

You can call me toll free at 1-877-842-3863 to answer your questions before you submit any information.

On your call, we will take a look at your situation, and your lifestyle and advise you on what you could do.

On top of our experience with hundreds of clients, we have answered lots of annuity questions.

Everything from grandparents, retirees, RRSP’ers, charities and those with shortened life expectancy have consulted us without charge.

Which means we can very quickly take a look at your situation and tell you what should help you, your family and what the plan of attack should be.

Call me at 1-877-842-3863 to talk about your situation.

One of the key reasons that our clients are happy is because we were able to quickly give them some pointers on which direction to take and get them the right annuity product to solve the income problem.

If you are wondering what to do and what we can do for you, the best way to get started is to fill out our  annuity form or call us at 1-877-842-3863.


Guaranteed Annuity

Don’t Forget About An Impaired Life Annuity

If you or your partner have a serious illness, don’t forget to ask for a health rating for your life annuity.
A life annuity,available where life expectancy is impaired, recently issued for a client on a joint basis, increased their income by 5%.
That may not sound much but when you consider that the healthy party was a female AND 12 years younger,you can realize that they were more than pleased.One company issued a rating of 5+ years and a second company rated the couple at 10+ years.The contract however was issued by the 5+ company as it had better standard rates to commence with.
Depending on the age(s) concerned and the illness involved, this approach should not be overlooked when doing retirement planning.
Guaranteed Annuity

My comments on “Buying a prescribed annuity?” by Rob Carrick of the Globe and Mail

Rob Carrick has written another helpful article on prescribed annuities, this time specifically on non-registered annuities.

Yes, it’s come time to make up your mind on whether you want your retirement savings to be both guaranteed and remunerative, while paying less taxes.

A non-registered annuity increases your monthly income and reduces your income tax on that capital. If you are concerned about market volatility and low interest rates which could guarantee losing not only capital but income,then this is the way to go. Rob introduces several examples but as usual, you need to get your own figures to see if this product is for you and your family.