Annuities
Convert your retirement savings into a guaranteed income stream you cannot outlive — no market risk, no uncertainty.
What Is an Annuity?
An annuity is a contract with a life insurance company. You provide a lump sum, and in return the insurer pays you a guaranteed income — monthly, quarterly, or annually — for a set period or for the rest of your life.
Annuities eliminate longevity risk: the fear of outliving your money.
Types of Annuities
Life Annuity
Pays income for as long as you live. Payments stop at death (unless a guarantee period is selected).
Life Annuity with Guarantee Period
Pays for the longer of your lifetime or a set period (e.g., 10 or 20 years). If you die within the guarantee period, payments continue to your beneficiary.
Joint and Last Survivor Annuity
Continues payments as long as either you or your spouse is alive — ideal for couples.
Term-Certain Annuity
Pays for a fixed number of years regardless of whether you are alive. Useful for bridging income gaps (e.g., before CPP or OAS kicks in).
Who Benefits from Annuities?
- Retirees converting RRSP/RRIF assets into guaranteed income
- Anyone who wants predictable, worry-free cash flow in retirement
- Individuals without a defined benefit pension plan
- People concerned about outliving their savings
Annuities vs. RRIF Withdrawals
| Feature | Annuity | RRIF |
|---|---|---|
| Investment risk | None | Yes |
| Income guarantee | Lifetime | Depends on returns |
| Flexibility | Low (irrevocable) | High |
| Estate value | Lower | Higher |
Annuities are most effective when interest rates are higher. Book a consultation to discuss whether annuitizing a portion of your savings makes sense for your retirement plan.
Why choose an independent broker in Calgary for Annuities?
As an independent broker based in Calgary, Maria Chekmareva works for you—not the financial institutions. By comparing Annuities options from over 15 top Canadian providers, we ensure you get a savings strategy tailored to your specific financial goals, all at no extra cost to you.
Ready to explore Annuities options?
Maria offers free, no-obligation consultations to help you build the right savings strategy.