Insurance Becomes an 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.

ipad-nortel-pension-calculator

Nortel Pension Calculator

UPDATE: Nortel Negotiated Pension Plan Windup

In one of the last updates, FSCO approved the final windup plan for the union (negotiated) Pension Plan #0587766. Morneau Shepell will commence mailing letters around November 16, 2015 apparently which will explain the status of the member.

Nortel Pension Plan Calculator

Nortel employees can now instantly calculate their approximate annuity income online. To find out approximately how much Guaranteed Income For Life you could receive, simply use this easy Nortel Pension Calculator. A precise quote from all the companies will be provided before you make a decision.

Start your calculation here > Nortel Pension Calculator

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Annuity Calculator

Online Annuity Calculator

How Much Guaranteed Income Will I Receive?

To find out approximately how much guaranteed income you can expect to receive when you own a life annuity, simply use this easy online annuity calculator.

Annuity CalculatorThe great thing about life annuities here in Canada is that the income you will receive is guaranteed. For life. Depending on your individual circumstances, you can also choose to guarantee the income for the joint lifetimes of yourself and your spouse or other family member, or for a specific number of years. Once you own a Life Annuity, you will receive a guaranteed income that will never decrease – no matter what happens to interest rates, and no matter what happens to the stock market. You have no risk, the insurance company takes on all the market and interest rate risk.

No other financial product on the market can make these guarantees and provide them in writing. Not mutual funds, not stocks, not bonds, not municipal funds, not bank GICs. All of them are subject to interest rate or market risk, or they could be reduced to zero if you live too long. Only life annuities can specify and promise a guaranteed income – for life.

Try our online annuity calculator

Insurance Becomes an Annuity

Manulife Financial Annuity Products

About Manulife Financial Insurance

Manulife provides some of the very best financial protection and wealth accumulation products backed by the financial strength and security of a global leader.

When you insure your family against the unexpected or invest your money for the future, you need a financial services company that is financially secure and able to keep its promises, possibly many years from now. Our high quality investment portfolio, diverse business platform and prudent risk management practices are a few of the reasons why you make the right choice when choosing Manulife Financial. Read more about Manulife Financial.

Product name: Manulife annuities

Issue ages: non registered 0-97, registered 16-60 (18-60 in Qc)

Types of annuities: Single life annuity, Joint life annuity, Term Certain annuity

Rate guarantee: 45 days

Guarantee Period: Registered 0-30 years, non registered 3- 30 years

Premium: minimum $10,000, maximum $2M

Quote: Calculate a Manulife Annuity Quote

Calculator: Manulife annuity calculator

Insurance Becomes an Annuity

La Capitale, Annuity Products

About La Capitale

For over 70 years, La Capitale Financial Group has had a strong presence in Quebec and across Canada.

We offer quality insurance products and financial services that are adapted to every stage of your life. Guided by the values of mutual aid and solidarity, we work with you in order to build, protect and value what counts for you and your financial security. Read more about La Capitale.

Product name: Immediate annuities

Issue ages: 18-88

Type of annuities: Single life annuity, joint life annuity, term certain annuity

Rate guarantee: 12 days

Guaranteed period: minimum 5 years

Premium: minimum $15,000 maximum $1 M

Quote: Request a La Capitale Annuity Quote

Insurance Becomes an Annuity

Industrial Alliance, Annuity Products

About Industrial Alliance

Founded in 1892, Industrial Alliance Insurance and Financial Services Inc. is a life and health insurance company that offers a wide range of life and health insurance products, savings and retirement plans, RRSPs, mutual and segregated funds, securities, auto and home insurance, mortgage loans and other financial products and services.

The fourth largest life and health insurance company in Canada, Industrial Alliance is at the head of a large financial group, which has operations across Canada as well as in the United States. Read more about Industrial Alliance.

Product name: Single premium annuities

Issue ages: registered ages 0-85, non registered age 0-100

Type of annuities: single life annuity, joint life annuity, term certain annuity, impaired life annuity

Rate guarantee: 60 days

Guarantee period: minimum 5 years

Premium: $25/month, maximum $2 million

Quote: Industrial Alliance annuity quote

Calculator: Industrial Alliance annuity calculator

Insurance Becomes an Annuity

Buy BMO Annuity Products

BMO Insurance

About BMO Insurance Company of Canada

Effective April 2009, AIG Life Insurance Company of Canada was acquired by BMO Financial Group and changed its name to BMO Life Assurance Company. It is no longer affiliated with American International Group, Inc.

BMO Financial Group is a highly diversified North American financial services organization that provides a broad range of retail banking, wealth management, and investment banking products and solutions to more than seven million clients and customers across Canada. BMO offers a range of innovative and easy-to-understand insurance solutions that includes: life and disability insurance on mortgages, loans and lines of credit; MasterCard Outstanding Balance insurance; DirectTerm life insurance; Personal Accident Protection, critical illness, and travel insurance. BMO Nesbitt Burns and its predecessor companies have been helping investors meet their financial goals since 1912. Read more about BMO Insurance.

Product name: single premium immediate annuities

Issue ages: Life and term certain non-registered funds  18 – 80

Types of annuities: single life annuity, joint life annuity, term certain annuity

Rate guarantee: non-registered 7 days, registered 45  days

Guarantee period: up to 25 years maximum

Premium: minimum $10,000 , maximum $2,000,000

BMO Quote: BMO Insurance Annuity Quote

BMO Calculator: BMO Annuity Calculator

Insurance Becomes an Annuity

Buy an Assumption Life Annuity

Assumption Life

About Assumption Life

Established in 1903, Assumption Mutual Life Insurance Company became a mutual  company more than forty years ago. A testament to its undeniable reliability, Assumption Life has stood the test of time and is now one of the largest remaining mutual life insurance companies in Canada. More about Assumption Life.

Product name: Immediate annuity

Issue ages: Single and Joint life ages 18-85. Prescribed term certain 18-85, non-prescribed term certain maximum age 105

Types of annuities: single life annuity, joint life annuity, term certain annuity

Rate guarantee: 21 days; 45 days if transfer from other institions

Guarantee period: Single life annuity, joint life annuity, term certain annuity 5 to 30 years. Pension income 0 to 15 years (can’t exceed age 90).

Premium Minimum: $10,000 maximum $750,000

Calculate: Assumption Life Annuity Quote

 

Insurance Becomes an Annuity

Free Online Annuity Calculator

Calculate Your Retirement Income with our Free Online Annuity Calculator

Our Free Online Annuity Calculator will provide you with a guideline figure of what you could expect to receive for your  annuity.

Most free online annuity calculators have  several problems that produce inaccurate figures. These calculators take a case that is fairly complex and boil it down to something simple.  For example, the life expectancy variable. It’s impossible to know how long you’ll live, hence the total receipt figure will always be inaccurate. Some free online annuity calculators can, however, provide a decent starting point for your retirement planning like the one we have below.

The best way to get an accurate monthly income is to request an annuity quote from an independent Annuity Broker who is able to compare annuity quotes from all the annuity providers.  The annuity broker shops around and can get up to 40% more for your retirement income.

To compare rates and options from top providers Request A Free Annuity Quote.

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