Annuity products: 14 insurers in the game
The Canadian annuity market is 14 insurers strong, according to InsuranceINTEL, the information centre for the life and health Insurance industry in Canada.
Only one firm offers two distinct products: La Capitale sells a standard payout annuity product plus LifeAnew, which is aimed at people between ages 40 and 60.
The annuity products available vary in terms of age at which the product can be purchased. This means that there are products suited to each generation.
In addition, all but three insurers offer a return of premium death benefit. As for the cash refund, only four players offer this option.
Life insurance advisors: would you like to compare more features? We’ve got the solution: the Product Finder tool provides detailed information on more than 400 products!