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Frequently Asked Questions About Annuities
We have looked to answer some of the most common questions asked when annuities as an investment option. If you have any specific questions send us an email and we would be pleased to help.
 
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How Much Will An Annuity Pay Me?

The size of the installments you receive depends on three factors:

  1. The amount you have to invest. The more you put towards an annuity, the more money your annuity issuer can earn, and the higher the payments you'll receive.
  2. How long you wish the payments to continue. This is called the term of the contract. The longer the term of your annuity, the smaller the installments will be. (If you choose an annuity that will pay you until you die, the amount you receive will be based on actuarial estimates of your life expectancy.)
  3. Long-term interest rates at the time you buy your annuity. The higher the prevailing rates, the bigger the installments will be, since the annuity issuer can make more from your savings.

Will I lock up my investments?

One drawback to going the annuity route is that you maybe locking up a deposit with set payout options. Once you purchase an annuity, you are locked in for the duration of the contract.

That means you can't increase your installment payments should you decide to take an expensive trip or make a major purchase. And if interest rates rise or the stock market begins to boom, you won't be able to reinvest to take advantage of other investment options, unless the issuer of your annuity is willing to let you cash it in - usually at cost of what could be a prohibitive interest penalty.

What are some of the benefits of using annuities?

An annuity can be a good post-retirement investment, especially when prevailing interest rates are strong. An annuity provides a means of deferring taxes on the proceeds of your RRSP or RPP, along with a predictable stream of income. It relieves you of the responsibility of making further investment decisions. And it can be tailored to suit your needs and preferences with a variety of features and options.
 

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We encourage you to get professional advice when reviewing annuities as part of your investment portfolio.

Click here to contact us to arrange a no-obligation meeting to discuss your investment needs or for information on annuities, click here.

Note: Annuities are an Insurance Investment Product made available through GP Capital Insurance Agency Ltd.


 

Additional Information

Benefits of Annuities

  • Potential creditor protection
  • Death benefit guarantees
  • Principal guarantees


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Investment Proctection

Annuities provided by GP Capital Insurance Agency are covered by Assuris.

Protect your deposits with Assuris

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