Single Life Annuity
- Provides annuity payments for your lifetime
- Options available
- Guaranteed Period
- Life Cash Refund
- Installment Refund
Joint Life Annuity
- Provides level or increasing annuity payments for your lifetime and that of your spouse
- Income continues in full or at a reduced amount to the surviving spouse
- Income can be reduced by a fixed amount or by a percentage; on prime or first death
- Options available
- Guaranteed Period
- Installment Refund
Term Certain Annuity
Provides guaranteed income payments for a specified period
Temporary Annuity (Non-Registered policies only)
- Provides level or increasing payments for a specified period as long as you are alive
- Options available
- Single or Joint Life
- Guaranteed Period
Lump Sum Annuity (Non-Registered policies only)
- You customize your annuity as a series of lump sum payments
- Option available:
- Guaranteed or Life Contingent payments
Deferred Annuity (Prepaid RRIF)
- You purchase a deferred annuity policy (term certain to age 90) with the option of converting to a RRIF at the earlier of age 71 and within 7 years of the annuity purchase date; an interest rate and term are selected for the RRIF
- The single premium accumulates at the annuity policy’s interest rate
- If you convert to a RRIF, the accumulated value of the policy is transferred to the RRIF while maintaining the RRIF interest rate for the balance of the term selected
- If you choose not to convert to a RRIF, annuity payments automatically start at the annuity policy’s commencement date
