Tuesday, February 07, 2012
A male aged 65 has accumulated $250,000 in registered funds during his lifetime.
He now wishes to retire and predicts he will need $1500 monthly for the rest of his life to live comfortably.
He chooses a 20 year guarantee in case he dies early, providing his spouse with a steady income for the remaining years.
How much money does he need to invest to obtain the monthly income?
BMO: $246,722.68
Sun Life: $247,341.00
Manulife: $248,663.42
Canada Life: $256,422.64
Great West: $257,338.20
Desjardins: $259,896.71
Standard Life: $260,861.75
Empire Life: $264,913.82
Transamerica: $274,056.79
Client will choose BMO Insurance as it requires less capital to invest.
The annuity calculator compares all the annuity companies in Canada. It provides exact amounts not estimates.
There is a difference of some $28,000 between BMO and Transamerica to achieve the same income level.
That is why we compare all the companies for you.
With our annuity calculator, enter the monthly income you wish to receive for the rest of your lifetime and we'll provide the exact amount you need to invest.
Please complete the form below. You will receive an email within 24 hours.
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email us or call toll free 877-842-3863.
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The Hughes Trustco Group | Website: www.lifeannuities.com | Email: info@trustco.ca | Toll Free: 877-842-3863
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