Payout annuities



What is a payout annuity?

A payout annuity is an easy way to convert some of your savings into regular guaranteed income payments. 

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Payout annuities will appeal to you if you’re seeking guaranteed income for one life, two lives, or for a specific period of time with protection from market risk.

If you’re nearing or in retirement, it’s key to ensure that essential living expenses like groceries, housing costs, and medications are always covered for the remainder of your life. A payout annuity helps cover these essential expenses and protects you from the risk of outliving your money. Once you’ve covered the essentials, you’ll have a better idea of how best to generate lifestyle income in retirement.

Benefits of payout annuities


    Provide the highest level of guaranteed lifetime income available when compared to other income generating products. Furthermore, there’s no active investment management needed and your income is covered by Assuris protection.


    Tax efficient income that may qualify for tax credits and pension income splitting.


    Many options to customize, such as a guaranteed period that can provide a death benefit to a beneficiary and income indexing that can offset the effect of inflation.

For information on Payout Annuities in Chinese, please see below:

Choosing the right payout annuity that works for you

Life annuity

A life annuity provides guaranteed income payments for as long as you live. A joint life annuity provides payments as long as you or your spouse/partner lives. With life annuities, you never have to worry about outliving your retirement income.

Learn more about life annuities

Term certain annuity

A term certain annuity provides guaranteed income payments for a selected period of time. Your beneficiary will receive the balance of the guaranteed income payments if you die before the end of the selected time period.

Learn more about term certain annuities

To learn more about how payout annuities can help you meet your goals, talk to your advisor today.