The questions about annuities are a common theme in financial discussions.
If you’re worried about your financial return on an annuity, remember that it is not an “investment” which you can compare to stocks, bonds, GIC’s.
However if you want to be guaranteed a cheque every month for the rest of your life to pay your bills, an annuity is what you need. It will give you a greater return than a GIC, the interest on which is 100% taxable. Above all else, it will give you security.
Don’t confuse investments and annuities; they serve the same goal, through different channels similar to a boat and a plane going to the same country.