It is difficult to answer this question on life annuities as there are so many factors to take into consideration.
Some are:
AGE: you are fed up with the volatile markets and low GIC rates and you just want a guaranteed life annuity income with no headaches.
GUARANTEE: You want your income guaranteed
CAPITAL :Your savings are registered money which can only be left,without prior taxation,to a spouse in a life annuity
FEAR: The life annuity rates may go lower,but if you wait you,ll miss out on an unknown number of monthly payments.
The man in the street always has the least choice in avoiding taxes but here at least,he can use his age to get an advantage with a life annuity.