Payout Annuities

Payout Annuities


Payout Annuities

A payout annuity can be used as a guaranteed income. It can be used for short or long-term income needs. It can also cover fixed expenses in retirement or give guaranteed income that is not affected by interest rates or market fluctuations. Payout annuities can also be used for converting registered savings to income.


Notable Features

  • Registered, non-registered, pension and locked-in monies
  • Indexed payments
  • Prescribed and non-prescribed tax treatment (non-registered annuities)
  • Guarantee periods
  • Potential for creditor protection
  • Flexibility


Payout Annuity Options

There are lots of payout annuity options available. Each gives the opportunity to build a retirement income solution based on personalized financial goals. 
  • Life Annuity
  • Annuity Certain (non-registered only)
  • Annuity Certain to age 90
  • Joint and Survivor
  • Joint and Survivor (with reducing payments)

If you would like to order paper copies, click here for the Savings and Retirement Supply Order Form.

 
This table includes downloadable marketing materials saved in PDF format. Each row is a different product and may contain versions of the brochure in alternate languages.
Form Number Cover Marketing Material Name Available Languages Product
0455 Download cover image for file Annuity Settlement Option Annuity Settlement Option File
Available in PDF only (fillable/savable)
FR
0355 Download cover image for file Payout Annuity Application (2022/03/08) Payout Annuity Application (2022/03/08) File
(fillable/savable)
FR
0687 Download cover image for file Payout Annuity Quote Template (2014/03/06) Payout Annuity Quote Template (2014/03/06) File
Available in PDF only (fillable/savable)
FR

If you would like to order paper copies, click here for the Savings and Retirement Supply Order Form.

 
This table includes downloadable marketing materials saved in PDF format. Each row is a different product and may contain versions of the brochure in alternate languages.
Form Number Cover Marketing Material Name Available Languages Product
1244 Download cover image for file Payout Annuities Client Brochure Payout Annuities Client Brochure File
Equitable Life Payout Annuities offer a simple, yet effective solution that will work to meet your individual needs.
FR
1369 Download cover image for file Payout Annuities Product at a Glance Payout Annuities Product at a Glance File
A Payout Annuity is a lump sum investment that provides guaranteed income.
FR
1947 Download cover image for file Payout Annuity Interest Rate Guarantees (Advisor) Payout Annuity Interest Rate Guarantees (Advisor) File
When you request a rate guarantee, you are guaranteeing the interest rate, not the dollar amount of the annuity payment. (Available in PDF only)
FR
1507 Download cover image for file Payout Annuity Rate Guarantees Payout Annuity Rate Guarantees File
A rate guarantee locks in the interest rate that will be used to calculate the income payment. (Available in PDF only)
FR
1511 Download cover image for file Prescribed Annuities: Tax-Efficient Retirement Income Prescribed Annuities: Tax-Efficient Retirement Income File
Prescribed Annuities: Tax-Efficient Retirement Income
FR
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Article       
Does a payout annuity fit your retirement plan?
When you reach retirement, your focus shifts from saving money to spending money. Now before you get too excited, what I mean by spending money is that you are pulling the money out of your account for living expenses. Let me see if I can be clearer.
 
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If you would like to order paper copies, click here for the Savings and Retirement Supply Order Form.

 
This table includes downloadable marketing materials saved in PDF format. Each row is a different product and may contain versions of the brochure in alternate languages.
Form Number Cover Marketing Material Name Available Languages Product
1638 Download cover image for file Equitable Life's Competitive Advantage Equitable Life's Competitive Advantage File
Advisors are making Equitable Life their first choice for Savings and Retirement products... here’s why
FR
1947 Download cover image for file Payout Annuity Interest Rate Guarantees (Advisor) Payout Annuity Interest Rate Guarantees (Advisor) File
When you request a rate guarantee, you are guaranteeing the interest rate, not the dollar amount of the annuity payment. (Available in PDF only)
FR
1514 Download cover image for file Gradual Inheritance Strategy Gradual Inheritance Strategy File
When electing this option, you are requesting that the death benefit proceeds payable at your death are used to purchase an annuity for your beneficiary(ies).
FR
Deposit Amounts:
Life Annuities:
  • Registered: $10,000 - $2,000,000 (up to a maximum of $8,333.33 monthly income)
  • Non-Registered: $10,000 - $1,000,000 (up to a maximum of $5,000.00 monthly income)
 
Term Certain:
  • All registrations: $10,000 - $2,000,000 (up to a maximum of $8,333.33 monthly income)
 
 
Required Guarantees:
  • Registered: 5 – 30 years
  • Non-Registered: 7 – 30 years
 
Special quotes:
A special quote can be requested for payout annuities that fall outside of the minimum/maximum thresholds. To request a special quote, complete the “Special Annuity Quote Template”, and sending it to annuityquotes@equitable.ca.
 
Rate Guarantees:
To lock in a rate guarantee complete the following steps:
  1. Run the quote and complete the application with the client.
  2. Obtain the rate guarantee by sending the signed application and quote to Equitable Life through EZupload or by fax at 519.883.7428. The documents must be submitted on the same day the quote was run.
  3. Equitable Life will honour the rate guarantee provided that the deposit is received in the required timeframe:
  • Deposits made by personal cheque: The deposit must be received within 3 days of the rate guarantee.
  • Transfers from another financial institution: The deposit must be received no later than 45 days of the rate guarantee.
 
 
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