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Payout Annuities

Payout annuities are insurance products that pay you a guaranteed regular income for a fixed term or the rest of your life.

Payout annuity income payments consist of a blend of interest and principal based on:

  • Your age and gender (and in certain cases your spouse’s age)
  • Current interest rates
  • Length of time the payments are guaranteed
  • Amount of money used to purchase the annuity
  • Type of annuity

Normally, payments are fixed, but if you are concerned about inflation, you may choose to have annuity payments indexed, that is increased by a fixed percentage each year to a maximum of 4% for registered policies and 6% for non-registered policies.

Benefits of Payout Annuities

Payout annuities have specific benefits and can be created using a number of features and options to meet your income needs.

Our Products – Payout Annuities

Our products can be purchased with registered (e.g., RRSP, RRIF, LIF, etc.) or non-registered funds as a way to top up retirement income once you’ve reached your annual RRSP contribution limits.

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