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Payout Annuities are a great way for clients to enjoy a steady income after retirement and ensure continued stability for dependants in the event of death.

An annuity converts a lump sum payment into a series of payments. The payment amount depends on the amount used to purchase the annuity, the type of annuity purchased, current interest rates as well as a client's age.

Payout annuities come with a wide range of options to fit the needs of most clients. Some of these options include:

  • life annuities that pay an income throughout a clients life

  • joint and last survivor annuities to ensure security for your client now, while providing for any dependent's income from any registered pension or locked-in retirement funds after death

  • annuity certains are specifically for registered money and pay you a set number of times until a client, and/or spouse, reach 90 years of age (depending on the type of annuity certain purchased). The balance is paid to the beneficiary if a client dies before age 90
We offer non-registered annuities, annuities with optional income dates, impaired annuities for those with health problems and more.

What Is An Annuity?

An annuity is like a mortgage payment in reverse. Instead of borrowing money, you are investing money with a financial institution. With a simple, one-time deposit, the financial institution will make regular income payments to you that contain both interest and principal. But, unlike a mortgage that ends after a specific period, the financial institution’s Annuity payments can continue for the rest of your life, no matter how long you live.

People with various needs and financial goals choose annuities. Some examples of people who typically purchase annuities include those who:

  • require a dependable stream of income for life,

  • require a dependable income for a specific time period,

  • are not interested in making on-going investment decisions and want a simple investment,

  • don't want to worry about outliving their income, or

  • want to diversify their investment portfolio.

What Types of Annuities Are Available?

There are various kinds of annuities designed to meet a number of different financial priorities. When choosing the right annuity for you, consider all of your options. If you are interested in exploring any of the annuity options below, please contact us for more information. We also offers a number of special annuity options for specific situations.

Life Annuities

Life Annuities will provide you with a guaranteed regular income for the rest of your life, no matter how long you live. Life Annuities can be purchased as a single life, which is based on one person’s life, or as a joint and survivor life, which is based on the lives of two people. Life Annuities can be purchased with or without a guarantee period.


Bert and Barbara are retiring this year and want to ensure they have regular income from their investments for the rest of their lives. After discussing this situation with their financial advisor, they decided to invest a portion of their RRSP savings in a Joint and Survivor Life Annuity. By purchasing this type of Life Annuity, they have guaranteed a retirement income until the last spouse dies. Now Bert and Barbara have the added comfort of knowing they will receive a dependable income for the rest of their lives, no matter what happens.


Term Certain Annuities

Term Certain Annuities provide investors with a guaranteed, regular income for a selected period of time. Once this period is over, income payments cease and the annuity contract ends.


Marv and Betty are retired and looking for a way to help fund their daughter’s living expenses in British Columbia for the next five years while she is going to medical school. After discussing the situation with their financial advisor, Marv and Betty decide to invest in a 5-year Term Certain Annuity. By purchasing this type of annuity, Marv and Betty don’t have to worry about funding income for their daughter from their other investments and can better enjoy their retirement.

Prescribed Annuities

Offer potential preferential tax treatment if you are investing in annuities using non-registered funds.

Accelerated Annuities

Offer higher income payments for you if you have serious health conditions.

Nursing Care Income Plan

Offers higher income payments for those who require nursing care, either at home or in a nursing care facility.

How Is My Annuity Income Determined?

The amount of income provided through an Annuity is generally determined at the time of purchase and depends on:

  • the amount of money you deposit,

  • current interest rates,

  • if you want your payment amount indexed (to increase over time),

  • your sex and age, and

  • the number of years for which you want a financial institution to guarantee your income payments.
We can explore various income scenarios with you and help investigate the type of income you could expect in your situation.

What If I Die Shortly After I Invest In A Manulife Annuity?

With an Annuity, you can choose from various guarantee periods that can ensure that your estate, or your designated beneficiaries, continue to receive income payments in the event of your death. Guarantee periods can range from zero to more than 25 years. The best part is that the guarantee option is totally up to you.

In general, choosing a longer guarantee period will decrease the amount of income produced. Longer guarantee periods require more funds to be set aside to provide for the additional guaranteed payments.

For Term Certain Annuities, payments will continue until the end of the specified term. Even if you die before the term ends, the annuity payments will continue to your estate, or your designated beneficiary, until the end of the term.

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