Annuities in Chestermere, Alberta

Canadian Life Insurance Companies in Chestermere, Alberta

The following is a list of Canadian life insurance companies licensed to sell annuities in Chestermere.

• BMO Insurance
• Beneva
• Canada Life
• Desjardins Insurance
• Empire Life
• Equitable
• Industrial Alliance
• ivari
• Manulife Financial
• RBC Insurance
• Sun Life Financial

Some of the cities we serve in Alberta

*Source: Wikipedia top cities in Alberta.

Canadian Provinces We Serve

List of Canadian provinces and territories

1. Ontario
2. British Columbia
3. Alberta
4. Quebec
5. Manitoba
6. Saskatchewan
7. Nova Scotia
8. New Brunswick
9. Newfoundland and Labrador
10. Prince Edward Island
11. Northwest Territories
12. Yukon Territory
13. Nunavut

Who Sells Annuities in Chestermere?

Life insurance companies do not sell annuities direct to the consumer. A life insurance agent or a independent life insurance broker are used to buy annuities.

Ideally it's in the annuitant's best interest to use an independent life insurance agent who specializes in annuities. An independent annuity broker will provide quotes from all the life insurance companies which you can then compare and choose the company with the best income.

Frequently Asked Questions (FAQ)

What is a life annuity?

A life annuity also called an income annuity, immediate annuity, fixed annuity or a guaranteed income is a series of regular payments that provides you with steady, guaranteed income, similar to a pension. With a life annuity, you will receive payments for as long as you live. Annuities can be purchased using non-registered or registered funds.

Why Should I Buy An Annuity in a Low Interest Rate Environment?

When we speak to our clients, it’s not about the interest rates. It's more about about reliability, security, control and predictability of a life income. The desire to have enough income to live comfortably is important to most clients.

In a Wells Fargo survey found that “22 percent of the middle class say they would rather ‘die early’ than not have enough income to live comfortably in retirement.

How Are Annuities Taxed?

Tax treatment of life and term annuities depends on source of premium (registered/nonregistered), and (for non-registered annuities), on whether the contract meets requirements for prescribed taxation.

1. Registered Annuities

Annuities purchased with funds from a registered retirement savings plan (RRSP), spousal RRSP, registered retirement income fund (RRIF), spousal RRIF, deferred profit sharing plan (DPSP), locked-in plan or pension plan are considered registered annuities. Every dollar paid to the client is taxable as income in the year it is received.

2. Non Registered Annuities

The taxation of non-registered annuities depends on whether the requirements for qualification as a prescribed annuity contract are met. It’s important to note the income payment doesn’t change between prescribed and accrual taxation; just the amount of income that’s taxable each year.