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john beaton - Annuity specialist
John Beaton
Senior Annuity Specialist

Call Toll Free Within Canada 1-800-667-8818

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Annuities in one form or another have been in existance since the middle ages. Today we more commonly see annuities being used by older, retired people to provide steady, guaranteed, regular income for the rest of their lives. An annuity is a valuable alternative when a person is required to turn RRSP savings into income for retirement. The only other choice is a RRIF [Registered Retirement Income Fund] which must be depleted according to government regulations in increasing amounts as one gets older and may not last for as long as one lives.

The Canadian Government announced in 2016 that new mortality tables must be adopted by Canadian life insurance companies as of January 1, 2017. The new mortality tables reflected positive changes in the number of years Canadians are expected to live. Longer lifetimes mean lower annuity payouts over a longer period of time.

Only life insurance companies can issue life annuities in Canada. It follows that only licensed life insurance agents/brokers are allowed to sell these annuities. Not all Canadian life insurance companies sell annuities. You should also know that the insurance companies that do offer annuities all have their own individual calculations as to how much value will be offered to consumers.

Canadian annuity rates fluctuate weekly and sometimes even daily. These rates differ from life insurance company to life insurance company. In order to get the best return for your purchase price, it is prudent to sample the rates from as many life insurance companies as you can. The easiest way to do this is to engage the services of an annuity broker such as John Beaton, who is described in this website. There is no charge for John's annuity comparison services. Should you eventually decide to purchase your annuity from him, then he is paid a commission from the insurance company you choose. Don't be concerned about John being biased for one insurance company over another. They all pay him relatively the same amount of commission for his services and he is contracted with virtually every life insurance company in Canada that offers annuities.

John is also fully conversant with Canadian rules that apply to RRSPs, RRIFs and related retirement products. John is uniquely educated in the day to day workings of retirement products as they relate to Canadian seniors.

Use the following link for extensive resources concerning annuities - Canadian Annuity Information

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John Beaton - Annuity Specialist
White Rock, British Columbia, Canada V4B 1P9
Telephone: (604) 535-2404
Toll Free Canada: 1-800-667-8818
Website: https://www.annuitybrokers.ca
E-mail: john@annuitybrokers.ca

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