Life annuity

Want to be able to count on regular, guaranteed income during your retirement? With a life annuity, you'll get payments at set intervals for your entire lifetime. Advantages Guaranteed periodic income for life Shelter from market fluctuations Worry-free money management Eligibility for a pension income tax credit A secure income stream that's a good way to supplement your flexible Registered Retirement Income Fund (RRIF) Protection from Assuris against the financial failure of the life insurance company.

Life annuity options

• Indexed annuity: When you take out your annuity, you can choose to have the payments increase by a set percentage each year to offset inflation. Indexation rates range from 1 to 4%.
• Joint and survivor annuities: [infobulle: also known as a ''reversible'' annuity] With this option, after you die, your spouse will continue to receive annuity payments for life.
• Guaranteed payment term: With this option, payments are guaranteed for a specified period (up to your 90th birthday). If your death occurs before the guaranteed period ends, the annuity will continue to be paid to your beneficiary for the remainder of the period.