Investment Choices

Annuities

With access to a wide variety of Canada’s top life insurance companies, Common Quest Financial has the ability to provide you with a diverse selection of annuity products to meet your personalized needs.

What Is An Annuity?
An annuity is an investment option that provides a regular income stream for a fixed period or for the remainder of your life. Annuities may be purchased with both registered and non-registered funds and can be set up to best fit your current and future income needs.

Types of Annuities

Single Life Annuity
The Single Life Annuity is a basic life annuity that will continue to provide you with an income for as long as you live. Simple and stable, it ensures you will never outlive your money.

Joint & Last Survivor Annuity
This type of annuity will continue to make payments while either you or your spouse is living. When one spouse passes away, the surviving spouse will continue to receive the income stream which he or she is accustomed to.

Annuity Certain
Established with RRSP funds, an Annuity Certain provides you with a set number of payments until the age of 90 (or until your spouse reaches the age of 90 if you’ve based the annuity on a younger spouse). For non registered funds, the Annuity Certain may be for any length over five years.

Deferred Annuity
By purchasing a Deferred Annuity, you are delaying the receipt of that income until a future date. A Deferred Annuity is great at accumulating funds on a tax-deferred basis until the funds are required when one nears retirement.

Annuity Options

Guaranteed Term
With this option, payments are guaranteed for a certain term anywhere from 5 to 20 years. This is also considered a Term Certain Annuity. However, the option can be attached to a Life or Joint & Last Survivor Annuity, and upon your death, your beneficiaries will continue to receive the payments for the duration of the term selected.

Indexing
In order to help offset the eroding ability of inflation, you have the ability to index your annuity on an annual basis. Rates may differ depending on whether you have registered or non-registered funds.

Prescribed
Subject to legislative restrictions, you may be eligible to have any income from your non-registered annuity taxed at an equal level for the duration of the annuity. Prescribed annuities therefore level out your tax payments and increase the amount of after-tax income you receive up front.