Get a free Annuity Quote! Visit us at or call us Toll Free 877-842-3863.
Canada Monday, October 23, 2017


Single Life Annuity

What is a single life annuity?

This type of annuity provides an income as long as the annuitant is living. When the annuitant dies, the contract ceases unless it contains a guarantee period.


Why not consider a single life annuity?

Single life annuities are ideal if you:

- are concerned about out-living your savings

- want to simplify investment decisions

- wish to minimize tax on investment income


With this approach you will be able to draw income from your RRSP savings. Also if you have non-registered savings, you buy a Single Life Annuity on which you will pay less taxes.


Guaranteed Period

For single life annuities, you can select guaranteed payments up to age 90 to ensure a specific minimum amount is paid from the annuity. This will ensure your estate and/or beneficiaries will continue to receive income payments during the guarantee period in the event of your death.


Refund Options

These options guarantee that in the event of the annuitant's death, a beneficiary will receive the difference between the orginal premium and the payments already received. It could be a lump sum or a continuation of the annuity payments if the annuity is non-registered.


And these payments can qualify for the Pension Income Tax Credit.


Pension Income Tax Credit

The interest element of a non-registered annuity, both prescribed and non-prescribed, is eligible for tax credits if the annuitant is 65 years of age or older.

Life Annuities Twiiter YouTube Facebook Pinterest RSS Feed Linkedin G plus

The Hughes Trustco Group | Website: | Email: | Toll Free: 877-842-3863
Download our free Life Annuities Ebook and Company Brochures at