Life Annuities Overview

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A life annuity is an investment which converts the lump sum of your RRSP’s or non registered funds into an income for the rest of your life.

When it comes time to consider buying a life annuity, you have a number of choices.

Retirement Income Planning

Most companies have a long history of providing a range of options to secure your income in retirement. You can select the most competitive ways to make the best use of your pension funds, whether registered or non registered.

Factors That Influence Life Annuities

Interest Rates
– Life Annuities are influenced by interest rates and other market factors.

Mortality
– Your life expectancy and that of your spouse affects the life annuity income. The older you are the higher the income you will receive.

Life Annuity Options
– The options you choose from the start will affect your life annuity income. Choosing a longer guarantee period will reduce the amount of income.

Gender
– The starting income is higher for a man than a woman as, on average, women live longer.

LIFE ANNUITY OPTIONS

Single life annuity

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