Income Annuities

A secure source of retirement income

Medical advances and healthier lifestyle choices mean people are living longer – but you may worry about outliving your money. When you use a lump-sum investment to purchase an income annuity, you receive regular payments for a specific time period or for life. Those payments are guaranteed, so you have a worry-free, dependable source of retirement income.

It’s Simple

• No need to manage an investment portfolio
• No fear of stock market crashes
• Your retirement years are about getting back to basics and doing things you enjoy
• Annuities make life simpler, not more complicated!

Choose the Amount

• Buy an income annuity for between $10,000 and $2 million

Choose Your Plan

• Choose the amount of income or the period of time you want to receive payments

Life Annuity

• Provides income for as long as you live
• If you choose a guaranteed period on your annuity, your income payments will be guaranteed for the selected number of years
• if you die during the guaranteed period, your beneficiary will receive a death benefit
  
  
• Joint Life Annuity
• Provides income for as long as you or your spouse lives
• If you choose a guaranteed period on your annuity, your income payments will be guaranteed for the selected number of years
  
  
• Term Certain Annuity
• Provides a specified number of guaranteed income payments – from three years to 25 years
• If you die before all the specified payments have been made, your beneficiary will receive a death benefit
• Particularly useful if you need a steady stream of income for a specific length of time
  
  
• Registered and Non-Registered Annuities
• Purchase the right annuity depending on whether your funds come from a registered or non-registered plan
• If your annuity qualifies, we can issue a non-registered annuity on a prescribed tax basis which provides for level taxation over your lifetime.

Contact Your Independent Insurance Advisor

Need an Independent Insurance Advisor?
Contact the BMO Insurance office in your area:
Ontario: 1-800-608-7303, insurance.advisorsalesontario@bmo.com
Quebec & Atlantic: 1-866-217-0514, insurance.advisorsalesquebecatlantic@bmo.com
Western Canada: 1-877-877-1272, insurance.advisorsaleswest@bmo.com