Insurance Becomes an Annuity

Should you consider an annuity?

My comments to “Should you consider an annuity?” by Kevin Press at BrighterLife.ca

Mr Press has emphasized perhaps the most important element in the purchase of annuities today.

As the largest seller of life annuities in Canada, in which we specialize at www.lifeannuities.com, we find that that most people seem to believe that it is 1-5 year GIC rates which set the scenario for the payouts which is not true at all.

And even if long term bond rates do rise,there is still no guarantee that annuity rates will go up. And of course you are getting older and losing time to enjoy the income.You might want to read ” Retirement Income; income that lasts a lifetime ” which you can find here. Hopefully it will give you some ideas.

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

Canadian Annuity Rates Comparison 2011 to 2013

As we enter 2013, the Democrats and Republicans appear to have made an uneasy peace which bodes not much change is coming for 2013 Canadian annuity rates.

Is that such a great change from 2011 and 2012 where not much change was seen either.

Below are tables showing Annuity Rates Comparison from 2011 to 2013.

2013 Male Annuity Rates

annuity rates canada male single registered 2013

 

 

 

 

 

 

2013 Female Annuity Rates

annuity rates canada female single registered 2013

 

 

 

 

 

 

2012 Male Annuity Rates

annuity rates canada male single registered 2012

 

 

 

 

 

 

2012 Female Annuity Rates

annuity rates canada female single registered 2012

 

 

 

 

 

 

2011 Male Annuity Rates

annuity rates canada male single registered 2011

 

2011 Female Annuity Rates

annuity rates canada female single registered 2011

In examining the returns, it would appear that not much has changed. Those waiting for higher annuity rates to guarantee a higher monthly return are still waiting. Annuity rates depend on a few important factors, all or any of which should not concern the potential annuitants.

What the annuitant needs to be concerned about is their own age and lifestyle. You are not going to live forever and the longer you wait to take your income, the less you will receive. Even if the rates increase, you still need to make up for the payments you did not take and the increase in capital you did not earn.

Annuities in 2013 don’t show  any sign of major change, a little bit up and a little bit down, just like 2011 and 2012. Meanwhile you are getting older and losing valuable income if you don’t move.

You are not alone in waiting in the hope that change will come. We have one client, age 70 with a large amount earning less than 1% per year. He is losing money through lack of return and inflation and has been waiting for the rates to increase since 2010. Each year he has been offered progressively less and he has run out of time to maximize his income. Don’t be like this man.

Obtain your own annuity rate.

 

Insurance Becomes an Annuity

2013 Canadian Annuity Rates

These 2013 annuity rate tables show you the best annuity rates available as of January 1 st, 2013. Some of the top 10 leading annuity providers include BMO Insurance, Canada Life Insurance, Empire Life, Great West Life, Industrial Alliance, La Capitale,  Manulife Investments, Standard Life Insurance, Sun Life Assurance Company and Transamerica Life Canada

To read full article with 2012 and 2011 comparison tables, click the link   Annuity Rates Canada 2013.

The Tables below show the monthly incomes for annuity rates based on a premium of $100,000. Income starts in 1 month.

2013 Annuity Rates: Male | Non Registered

male single Non registered

2013 Annuity Rates: Male | Registered

Male single registered annuity rates as of 2013

2013 Annuity Rates: Female | Non Registered

annuity-rates-canada-female-single-nonregistered-2013

2013 Annuity Rates: Female | Registered

2013 Canadian Annuity Rates

 

 

 

 

 

 

2013 Annuity Rates: Joint | Non Registered

2013 Canadian Annuity Rates

 

 

 

 

 

2013 Annuity Rates: Joint | Registered

2013 Canadian Annuity Rates

Insurance Becomes an Annuity

What are payout annuities and how do they work?

What are payout annuities?

In exchange for a single lump sum deposit, insurance companies payout annuities provide you with guaranteed income for life or for a specific term (term certain annuity) so you can have peace of mind and the security you need to enjoy your retirement to the fullest.

How many types of payout annuities are there?

In Canada insurance companies offer 3 types of payout annuities.

  1. Single Life Payout Annuity: based on the life of one person.
  2. Joint Life Payout Annuity: based on the lives of two people usually married couple.
  3. Term Certain Payout Annuity: which provides guaranteed payments for a predetermined number of years.

How do you choose the right type of payout annuity?

What companies sell payout annuities?

Here is a list of insurance companies that sell payout annuities in Canada:

  1. BMO Insurance
  2. Canada Life
  3. Empire Life
  4. Great West Life
  5. Industrial Alliance
  6. La Capitale
  7. Manulife
  8. Standard life
  9. Sun Life
  10. Transamerica Life

What are the best payout annuity rates in Canada?

Click here for the Best Payout Annuity rates in Canada.

Benefits of Payout Annuities

  1. Guaranteed income for life
  2. Income security
  3. Tax benefits
  4. Payments can continue to your spouse or beneficiaries
  5. No investment decisions
Insurance Becomes an Annuity

Best Annuity Rate Comparison Tables of 2012

Below are the best annuity rate comparison tables which we prepared on November 2, 2012.

The annuity rates shown below are from registered funds. All annuity rates provided are immediate life annuities. We compare annuity rates for males and females. A joint comparison is also available for your spouse. All the annuity rates are based on monthly incomes with a premium of $100,000 of registered funds. The income payments will commence in one month.

Annuity Comparison Tables

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Click here to view the full Annuity Rates Comparison Table 2012 article.

Insurance Becomes an Annuity

Annuity Rates Canada as of October 29, 2012

Canadian annuity rates as of October 29th, 2012.

The monthly incomes are based on a premium of $100,000 of registered funds.  All payments will commence in one month.

Annuities Rates: Single life female, no guarantee

 

 

 

 

 

 

 

Annuities Rates : Single life male, no guarantee

 

 

 

 

 

 

 

Annuities Rates: Joint life, no guarantee

 

 

 

 

 

 

 

 

Calculate your own annuity rate. Use our online annuity calculator.

Insurance Becomes an Annuity

Best Interest Rates in Canada – 13.5% GIC

Best Interest Rates Canada

The following GIC Certificate has a 13.5% annual interest rate.

 

 

 

 

 

 

 

The GIC above is one of our best interest rates we reserved for our client  on May 13, 1980 for 1 year term deposit. Below is the current best interest rates in Canada.

Best Canadian Interest Rates Today: June 28, 2012

Best Interest Rates Canada
Company Term In Years
1 2 3 4 5
AGF Trust 1.510 2.110 2.260 2.360 2.460
ATB Financial 1.300 1.300 2.000 1.850 2.400
AcceleRate Financial 2.150 2.500 2.700 2.800 3.100
Achieva Financial 2.150 2.500 2.700 2.850 3.100
Ally 1.700 1.750 2.000 2.250 2.600
Alterna Bank 1.400 1.600 1.900 1.900 2.250
Alterna Savings 1.400 1.600 1.900 1.900 2.250
B2B Trust 1.500 2.200 2.300 2.300 2.500
Bank West 1.900 1.950 2.100 2.150 2.250
Bank of Montreal 1.150 1.300 1.400 1.650 2.050
Bank of Nova Scotia .900 1.100 1.250 1.400 1.750
Bk Nova Scotia Mtg. Corp .900 1.100 1.250 1.400 1.750
Boomerang Credit Union 1.200 1.300 1.400 1.850 2.250
CIBC .650 .850 1.000 1.150 1.500
CIBC Trust Corp. .900 1.100 1.250 1.400 1.750
Caisses Desjardins .900 1.300 1.400 1.600 1.850
Canada Life .300 .650 .750 1.000 1.100
Canadian Direct Fin’l 1.550 2.000 2.250 2.350 2.450
Canadian Tire Bank 1.250 1.600 1.800 1.950 2.250
Canadian Western Bank 1.550 2.000 2.250 2.350 2.450
Canadian Western Trust 1.400 1.550 1.650 1.850 2.300
Coast Capital Savings 1.750 2.000 2.250 2.350 2.500
Community Trust 1.450 1.750 1.950 2.000 2.050
Concentra Financial 1.150 1.300 1.400 1.850 2.100
DUCA Financial Services 1.400 1.700 2.000 2.100 2.300
Desjardins Fin. Security .950 1.050 1.350 1.550 1.750
Effort Trust 1.800 2.200 2.400 2.450 2.500
Empire Life 1.500 2.000 2.250 2.250 2.250
Entegra Credit Union 2.050 2.400 2.650 2.750 3.000
Equitable Life .610 1.150 1.650 1.650 2.150
Equitable Trust 1.600 2.050 2.300 2.350 2.450
Fiducie Desjardins .900 1.300 1.400 1.600 1.850
First Calgary Financial 1.250 1.650 1.950 2.000 2.300
FirstOntario Credit Un. 1.750 1.800 2.000 2.200 2.600
General Bank of Canada 1.750 2.000 2.100 2.200 2.400
Great-West Life .550 .900 1.000 1.250 1.350
HSBC Bank Canada 1.100 1.300 1.400 1.600 1.900
HomEquity Bank 1.750 2.100 2.200 2.400 2.600
Home Trust Company 1.800 2.200 2.400 2.400 2.500
ICICI Bank Canada .000 .000 .000 .000 .000
ING Direct 1.400 1.750 2.000 2.100 2.300
Industrial Alliance .900 1.350 1.500 1.600 2.000
Korea Exchange Bank 1.600 1.700 1.800 1.900 2.000
Laurentian Bank Canada .900 1.250 1.400 1.600 1.850
Laurentienne Trust .900 1.250 1.400 1.600 1.850
League Svgs & Mortgage 1.150 1.300 1.400 1.600 2.050
Libro Financial Group 1.200 1.600 1.750 1.950 2.100
London Life .550 .900 1.000 1.250 1.350
M.R.S. Trust 1.250 1.500 1.800 2.050 2.250
MCAN Mortgage Corp. 1.700 2.000 2.150 1.650 1.950
Manulife Bank 1.500 1.900 2.150 2.350 2.600
Manulife Investments .850 1.250 1.500 1.750 1.850
Manulife Trust 1.500 1.900 2.150 2.350 2.600
MonCana Bank of Canada 1.400 1.600 1.700 1.800 1.900
National Bank .900 1.300 1.400 1.600 1.850
Ontario Civil Service CU 1.300 1.300 1.400 1.850 2.100
Outlook Financial 2.150 2.500 2.700 2.850 3.100
PACE Savings & Credit Un 1.100 1.500 1.600 1.750 2.100
Pacific & Western Bank 1.600 2.100 2.200 2.300 2.450
Parama Credit Union 1.800 1.900 2.200 2.250 2.500
Peace Hills Trust 1.250 1.500 1.900 2.350 2.500
Peoples Trust 1.600 1.900 2.000 2.100 2.400
President’s Choice Fin’l 1.250 1.700 1.900 2.100 2.300
ResMor Trust 1.750 2.150 2.300 2.350 2.600
Royal Bank of Canada 1.300 1.300 1.850 1.600 2.100
Servus Credit Union 1.150 1.300 1.400 1.650 2.050
Standard Life .500 1.050 1.600 1.600 1.600
State Bank of India (C) 1.650 1.900 2.250 2.350 2.500
Steinbach Credit Union 2.050 2.400 2.650 2.750 3.000
Sun Life – Insurance 1.050 1.100 1.250 1.400 1.500
Sun Life – Trust 1.600 1.950 2.050 2.150 2.350
T-D Mortgage 1.300 1.300 1.400 1.650 2.000
Teachers Credit Union 1.400 1.650 2.100 2.350 2.500
VanCity Savings (BC) 1.300 1.300 1.850 1.750 2.000
Windsor Family C.U. .900 1.300 1.400 1.600 2.100
Your Neighbourhood C.U. 1.700 1.800 1.900 2.200 2.400
Insurance Becomes an Annuity

Annuity Due 2012 | Tables, Rates and Calculators

What is an Annuity Due?

An annuity due is almost identical to a regular annuity. When you buy an annuity due contract, you make a deposit with an annuity company. In exchange for your investment, the annuity company agrees to give you monthly payments in the future. The main feature of an annuity due is the timing of its payments. A regular annuity makes its payments at the end of a period. If you have a regular, monthly annuity, you get your payment at the end of the month. An annuity due makes its payments at the beginning of the period. As a result, you receive your payment on the first day of each month.

Annuity Due Tables

The tables below show a premium amount of $100,000 registered funds with a purchase date June 1, 2012 & Start date June 1, 2012. Monthly income are listed below by age group.

Annuity Due | Single Male Table

Annuity Due | Single Female Table

Annuity Due | Joint Male Table

Annuity Due Calculator

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Annuity Due Quote Example

This is an example of an annuity due quote from a list of Canadian insurance companies.

Annuity Due Quote

Start here and get annuity quotes from all the annuity companies.

Insurance Becomes an Annuity

2012 Canadian Annuity Rates

The following annuity rates are the best Canadian annuity rates as of April 02, 2012.

The tables show the monthly incomes for annuity rates based on a premium of $100,000.

Non-Registered, Male,  Canadian Annuity Rates

Registered, Male,  Canadian Annuity Rates

Non-Registered, Female,  Canadian Annuity Rates

Registered, Female,  Canadian Annuity Rates

Non-Registered, Joint,  Canadian Annuity Rates

Registered, Joint,  Canadian Annuity Rates

Get Your Own Exclusive Annuity Rate
Click our online annuity quote form to get your annuity rate. Enter the principal amount to invest and we’ll provide the exact monthly income you will receive for the rest of your lifetime.

For more information on 2012 Annuity Rates.