Here is a further comment.
BMO AND NEW YORK LIFE LONGEVITY ANNUITY
The product, Lifetime Cash Flow,that BMO introduced in January in an attempt to grab some of the life annuity market,is sold in the States as a deferred annuity i.e. you invest today and start your income years later.
New York life called their product a Longevity Annuity,but in my opinion all of these products are life annuities of one sort or another.