— Ivon T Hughes (@LifeAnnuities) February 12, 2016
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.
- Single Life Payout Annuity: based on the life of one person.
- Joint Life Payout Annuity: based on the lives of two people usually married couple.
- 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:
- BMO Insurance
- Canada Life
- Empire Life
- Great West Life
- Industrial Alliance
- La Capitale
- Standard life
- Sun Life
- 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
- Guaranteed income for life
- Income security
- Tax benefits
- Payments can continue to your spouse or beneficiaries
- No investment decisions
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.
Today’s Annuity Rates: 24-April-2012
The following annuity rates comparison tables are for registered funds, with a premium amount of $100,000 and with a “no guarantee” period.
Comparison Table: Single Male Annuity Rates
Comparison Table: Single Female Annuity Rates
Comparison Table: Joint Annuity Rates
Canadian Annuity Quotes
To obtain your own personal Canadian annuity quote please use the instant annuity calculator on our site.
We represent the following list of life insurance companies in Canada that sell life annuities. To request an annuity price choose from one of the list of companies below.