Here are the 3 types of Single Premium Immediate Annuities available in Canada.
1. Single Life Annuities
Provides a series of income payments (monthly or annually) for your lifetime. You cannot outlive your payments.
2. Joint Life Annuities
Provides a series of income payments (monthly or annually) for your lifetime and your spouse’s lifetime. Neither of you can outlive the income payments.
3. Term Certain Annuities
Provides a series of income payments for a chosen period.
Registered and Non-Registered Annuities
Your funds can be from a registered plan such as an RRSP or non-registered funds such as in a GIC.
Will Your Retirement Income Last as Long as Your Retirement?
The bad news is the many Canadians aren’t adequately prepared financially for longer lives. Longevity in Canada continues to increase. Most men are expected to live to age 85 and women to age 88.
So Why Purchase A Single Premium Annuity?
It’s Guaranteed! Annuities provide a lifetime income source with no fluctuations of the stock market or interest rates. You cannot outlive your income payments.
Its Simple! No worry and stress about managing your investments. No fear of stock market crashes.
Peace of Mind! Why have the risk, worry and stress of investing and watching over your nest egg during the years you want things simpler.
Where to begin?
You can call me toll free 1-877-842-3863 or simply complete our online annuity form and we’ll provide you with an annuity quote from all the companies in Canada.