{"id":932,"date":"2012-11-05T13:54:35","date_gmt":"2012-11-05T18:54:35","guid":{"rendered":"http:\/\/www.lifeannuities.com\/blog\/?p=932"},"modified":"2012-11-05T13:58:34","modified_gmt":"2012-11-05T18:58:34","slug":"what-are-payout-annuities-and-how-do-they-work","status":"publish","type":"post","link":"https:\/\/lifeannuities.com\/blog\/retirement\/what-are-payout-annuities-and-how-do-they-work","title":{"rendered":"What are payout annuities and how do they work?"},"content":{"rendered":"

What are payout annuities?<\/h3>\n

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.<\/p>\n

How many types of payout annuities are there?<\/h3>\n

In Canada insurance companies offer 3 types of payout annuities.<\/p>\n

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

    How do you choose the right type of payout annuity?<\/h3>\n

    What companies sell payout annuities?<\/h3>\n

    Here is a list of insurance companies that sell payout annuities in Canada:<\/p>\n

      \n
    1. BMO Insurance<\/li>\n
    2. Canada Life<\/li>\n
    3. Empire Life<\/li>\n
    4. Great West Life<\/li>\n
    5. Industrial Alliance<\/li>\n
    6. La Capitale<\/li>\n
    7. Manulife<\/li>\n
    8. Standard life<\/li>\n
    9. Sun Life<\/li>\n
    10. Transamerica Life<\/li>\n<\/ol>\n

      What are the best payout annuity rates in Canada?<\/h3>\n

      Click here for the Best Payout Annuity rates in Canada<\/a>.<\/p>\n

      Benefits of Payout Annuities<\/h3>\n
        \n
      1. Guaranteed income for life<\/li>\n
      2. Income security<\/li>\n
      3. Tax benefits<\/li>\n
      4. Payments can continue to your spouse or beneficiaries<\/li>\n
      5. No investment decisions<\/li>\n<\/ol>\n","protected":false},"excerpt":{"rendered":"

        What are payout annuities? In exchange for a single lump sum deposit, insurance companies payout annuities provide you with guaranteed[…]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[1],"tags":[4,5,157,120,31,159,66,124,46,45,83,158],"class_list":["post-932","post","type-post","status-publish","format-standard","hentry","category-retirement","tag-annuities","tag-annuity","tag-benefits","tag-best","tag-canada","tag-how","tag-joint","tag-payout","tag-rate","tag-rates","tag-single","tag-work"],"_links":{"self":[{"href":"https:\/\/lifeannuities.com\/blog\/wp-json\/wp\/v2\/posts\/932","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lifeannuities.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lifeannuities.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lifeannuities.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/lifeannuities.com\/blog\/wp-json\/wp\/v2\/comments?post=932"}],"version-history":[{"count":7,"href":"https:\/\/lifeannuities.com\/blog\/wp-json\/wp\/v2\/posts\/932\/revisions"}],"predecessor-version":[{"id":938,"href":"https:\/\/lifeannuities.com\/blog\/wp-json\/wp\/v2\/posts\/932\/revisions\/938"}],"wp:attachment":[{"href":"https:\/\/lifeannuities.com\/blog\/wp-json\/wp\/v2\/media?parent=932"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lifeannuities.com\/blog\/wp-json\/wp\/v2\/categories?post=932"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lifeannuities.com\/blog\/wp-json\/wp\/v2\/tags?post=932"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}