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Annuities offer a secure, guaranteed income plan that meets your needs and makes the most of your assets, without the worries of more complex investments. Our registered and non-registered annuities feature flexibility, creditor protection, highly competitive rates and annuity income payments
| Annuity Types |
| Term Certain annuity |
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- Guaranteed, steady source of income for a specified period
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| Life annuity |
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- More protection than a term certain annuity
- Guarantees you an income you cannot outlive
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| Joint Life annuity |
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- Even more protection than a life annuity
- Provides full protection for you and your spouse
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Life annuity
(with a guaranteed period) |
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- A combination of a term certain and life annuity
- Ensures a source of income for a specified number of years and continues to provide income should you survive beyond that period
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Joint Life annuity
(with a guaranteed period) |
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- A combination of term certain and life annuity
- Guarantees you or your spouse a source of income for a specified period and thereafter to the surviving spouse
- Income continues in full or at a reduced amount to the surviving spouse
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Temporary Annuity
(non-registered contracts only) |
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- Guarantees you a source of income for a specified period as long as your are living
- Available on single and joint life annuities; with or without a guaranteed period
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Prepaid RRIF
(Deferred Annuity) |
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- Purchase of a deferred annuity contract (term certain to age 90) with the option of converting to a RRIF at the earlier of age 69 or within 7 years of the annuity purchase date. If you choose not to convert to a RRIF, the annuity payments automatically start at your contract's annuity commencement date.
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Income Payment Option |
Income Payments |
Level-Income
Annuity |
- Basic, most common choice
- Income payments are the same for the duration of the annuity
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| Increasing Income Annuity |
- Income payments increase each year by a fixed percentage or amount (maximum increase per year is 4% for registered annuities and 6% for non-registered annuities)
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| Indexed Income Annuity |
- Income payments increase each year according to the level of the Consumer Price Index (CPI)
- Payments can be indexed during the deferral period (from the purchase date to the annuity commencement date)
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