Canada Life Annuities

Canada Life was formed right back in 1847 and offer a range of insurance and financial products for companies and individuals across the world. Included in this list of products are Canada Life Annuities for those who want a secure and dependable income in retirement. If you have been saving into a defined contributions pension scheme then you will have the option at retirement to convert this money into an annuity, or alternatively, choose other forms of retirement income. Canada Life are just one of the companies who you may choose to provide an annuity income.

Canada Life Annuity Options

Life Annuity – Otherwise known as a standard or conventional annuity, this will pay you the same amount each year until death. The amount you get in annuity income varies depending on how old you are, how much you invest and current annuity rates.

Joint Annuity – If you are married and particularly if your partner is a lot younger than you then a Canada Life joint annuity may be suitable. If you pass away before your partner, then some or all of your annuity income passes onto them.

Escalating Annuity – Your income will escalate by a pre-determined specified amount which you choose on purchase. This can help mitigate against the problem of rising inflation and prices. However your starting income will be lowered compared to a conventional annuity.

Even if you have been saving your pension with another company you can always opt for Canada Life or any other annuity provider by shopping around for the best deal.