What Is a Cash Refund Annuity?
Cash Refund (Principal Protection)
Cash refund annuities – (sometimes called cashable annuities or principal protection) refer to an annuity option that ensures any remaining balance is paid to a beneficiary if the annuitant dies early.
Cash refund annuities are an answer to the increasing demand for flexibility, along with the security of the investment.
With this new product, you will get the higher age return income of a life annuity, but with the bonus of being able to cash out if you wish. Life annuities, of course, give better returns the older you are, but as you receive the same income as a non cashable annuity, they’re certainly worth investigating.
And you don’t have to ever use the cashability feature.
Cashable Annuities – This option (also known as a cash refund guarantee) ensures that, in the event that all annuitants pass away on or after the payment start date, a beneficiary will receive a lump sum payment. This lump sum payment is equal to the difference between the total payments made by us and the original investment.
Cash Refund Annuity Rates (Principal Protection)
Cash refund annuities provide income for life and ensure any unused portion of the original investment is paid to your beneficiary.
Published:
Single Life: Male Aged 65
| Company | Monthly Income | Principal Protection | Request Quote |
|---|---|---|---|
Canada Life
|
$507.57 | Yes (Cash Refund) |
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|
Desjardins Fin.
|
$533.31 | Yes (Cash Refund) |
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|
Manulife
|
$542.80 | Yes (Cash Refund) |
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|
Single Life: Female Aged 65
| Company | Monthly Income | Principal Protection | Request Quote |
|---|---|---|---|
|
Canada Life
|
$487.97 | Yes (Cash Refund) |
Get Quote
|
|
Desjardins Fin.
|
$507.14 | Yes (Cash Refund) |
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|
|
Manulife
|
$522.97 | Yes (Cash Refund) |
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|
Joint Life: Male & Female Aged 65
| Company | Monthly Income | Principal Protection | Request Quote |
|---|---|---|---|
|
Canada Life
|
$465.57 | Yes (Cash Refund) |
Get Quote
|
|
Desjardins Fin.
|
$481.34 | Yes (Cash Refund) |
Get Quote
|
|
Manulife
|
$500.29 | Yes (Cash Refund) |
Get Quote
|
Cash Refund Annuity Illustration
Illustration Date:
Annuity Details: joint annuity, male and female aged 65, $100,000 of registered funds with a cash refund option. Manulife's Principal Protected Annuity.
View Illustration Cash Refund (principal protection) illustration (PDF) – This option ensures any unused portion of original deposit is paid to your beneficiary.
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