Which Option Could Generate More Income?
Compare GIC income and annuity income using current rates to see which option provides more retirement income.
Your Income Comparison Results
| Deposit Amount | $0 |
|---|---|
| Top GIC Provider | - |
| Best GIC Rate | 0.00% |
| Monthly GIC Income | $0 |
| Annual GIC Income | $0 |
| Top Annuity Provider | - |
| Monthly Annuity Income | $0 |
| Annual Annuity Income | $0 |
| Income Winner | $0/month |
Market Comparison
Understanding Your Results
In many cases, annuities can provide higher monthly income than GICs because
annuity payments are based on both investment returns and a gradual return of
capital
over time. GICs typically preserve the original deposit and pay interest based
on the selected term. The results above are estimates only and are intended to
help compare potential retirement income options.
Disclaimer: This comparison uses current GIC rates and published annuity income rates from Canadian insurers. GIC rates are updated daily while annuity income rates are updated monthly. Annuity income figures are estimates calculated from published annuity rates and scaled to the deposit amount entered. Actual annuity quotes may vary based on age, gender, province, health status and market conditions. Results are for informational purposes only. Please speak with a licensed financial advisor before making any financial decisions.
