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EXAMPLE: NON REGISTERED LIFE ANNUITY QUOTE
Registered
Life Annuity Quote
| Annuity Survey Details |
| Prepared By |
Ivon T. Hughes |
| Annuitant's Province |
Ontario |
| Name |
John Smith |
| Birth Date |
December 20, 1926 |
| Sex |
Male |
| Annuity Type |
Single Life |
| Fund Type |
Non-Registered - Prescribed |
| Guarantee Period |
5 Years |
| Premium |
$175,000.00 |
| Purchase Date |
November 15, 2006 |
| Payment Frequency |
Monthly |
| Income Start Date |
December 15, 2006 |
| Death Benefit Before Payments Begin: Guaranteed payments when due |
| Rank |
Financial Institution |
Monthly
Income |
Taxable
Portion |
Guaranteed
To End Of |
Notes |
| 1 |
Equitable Life |
$1,845.11 |
$192.04 |
Not binding |
|
| 2 |
Great-West Life |
$1,795.24 |
$138.04 |
Not binding |
|
| 3 |
Canada Life |
$1,795.17 |
$137.97 |
Not binding |
|
| 4 |
Manulife Investments |
$1,791.81 |
$134.61 |
NOV-06-2006 |
|
| 5 |
Sun Life Assurance Company of Canada |
$1,757.89 |
$100.69 |
NOV-08-2006 |
|
| |
Financial Institution |
Reasons For Not Quoting |
| |
Bank of Nova Scotia |
Single life annuities are not offered. |
| Death Benefit Before Payments Begin: Return of premium |
| Rank |
Financial Institution |
Monthly
Income |
Taxable
Portion |
Guaranteed
To End Of |
Notes |
Death Benefit
Interest Rate |
| 1 |
Transamerica Life Canada |
$1,801.92 |
$141.49 |
Not binding |
|
4.00000% |
| 2 |
Great-West Life |
$1,791.39 |
$134.19 |
Not binding |
See below |
.00000% |
| 3 |
Canada Life |
$1,791.27 |
$134.07 |
Not binding |
See below |
.00000% |
| 4 |
Manulife Investments |
$1,788.20 |
$131.01 |
NOV-06-2006 |
See below |
.00000% |
| 5 |
Empire Life |
$1,782.30 |
$125.10 |
Not binding |
|
5.00000% |
| 6 |
Sun Life Assurance Company of Canada |
$1,754.56 |
$97.36 |
NOV-08-2006 |
See below |
.00000% |
| 7 |
Standard Life |
$1,707.82 |
$54.81 |
Not binding |
|
5.00000% |
| 8 |
Desjardins Financial Security |
$1,651.01 |
$0.00 |
NOV-07-2006 |
|
5.00000% |
| |
Financial Institution |
Notes |
| |
Canada Life |
Other death benefit interest rates are available from the quoted company. |
| |
Great-West Life |
Other death benefit interest rates are available from the quoted company. |
| |
Manulife Investments |
Other death benefit interest rates are available from the quoted company. |
| |
Sun Life Assurance Company of Canada |
Other death benefit interest rates are available from the quoted company. |
| Survey Notes |
| Not binding means that the length of time between the quote date and the Purchase Date is too long for the financial institution to commit. |
| When the option for 'Death Benefit Before Payments Begin' is 'Guaranteed payments when due', some financial institutions offer the choice of a single payment that is calculated as the present value of the remaining guaranteed payments (also known as the commuted value). |
|
| Prepared By |
Ivon T Hughes |
| Annuitant's Province |
Alberta |
| Primary Annuitant |
| Name |
Client 1 |
| Birth Date |
|
| Sex |
Male |
| Continuation |
100.000% |
| Secondary Annuitant |
| Name |
Client 2 |
| Birth Date |
|
| Sex |
Female |
| Continuation |
100.000% |
| Annuity Type |
Joint Life |
| Joint Type |
Non-reducing |
| Fund Type |
Non-Registered - Prescribed |
| Guarantee Period |
20 Years |
| Premium |
|
| Purchase Date |
April 1, 2008 |
| Payment Frequency |
Monthly |
| Income Start Date |
May 1, 2008 |
| Death Benefit Before Payments Begin: Guaranteed payments when due |
| Rank |
Financial Institution |
Monthly
Income |
Taxable
Portion |
Guaranteed
To End Of |
Notes |
| 1 |
Manulife Investments |
$9,662.12 |
$4,215.50 |
Not guaranteed |
|
| |
Financial Institution |
Reasons For Not Quoting |
| |
Bank of Nova Scotia |
Joint life annuities are not offered. |
| |
Canada Life |
The Premium entered is too high. |
| |
Equitable Life |
The Premium entered is too high. |
| |
Great-West Life |
The Premium entered is too high. |
| |
Sun Life Assurance Company of Canada |
The Premium entered is too high. |
| Death Benefit Before Payments Begin: Return of premium |
| Rank |
Financial Institution |
Monthly
Income |
Taxable
Portion |
Guaranteed
To End Of |
Notes |
Death Benefit
Interest Rate |
| 1 |
Manulife Investments |
$9,662.12 |
$4,215.50 |
Not guaranteed |
See below |
.00000% |
| 2 |
Standard Life |
$9,265.66 |
$3,821.39 |
Not binding |
See below |
5.00000% |
| |
Financial Institution |
Notes |
| |
Manulife Investments |
Other death benefit interest rates are available from the quoted company. |
| |
|
The Premium will be returned on the second death, if both annuitants die before payments begin. |
| |
Standard Life |
If one of the annuitants dies before payments begin, the annuity will be converted to a Single Life annuity. |
| |
|
The Premium will be returned on the second death, if both annuitants die before payments begin. |
| |
Financial Institution |
Reasons For Not Quoting |
| |
AIG Life of Canada |
The Premium entered is too high. |
| |
Canada Life |
The Premium entered is too high. |
| |
Desjardins Financial Security |
The Premium entered is too high. |
| |
Empire Life |
The Premium entered is too high. |
| |
Great-West Life |
The Premium entered is too high. |
| |
Sun Life Assurance Company of Canada |
The Premium entered is too high. |
| |
Transamerica Life Canada |
The Premium entered is too high. |
| Survey Notes |
| Not binding means that the length of time between the quote date and the Purchase Date is too long for the financial institution to commit. |
| When the option for 'Death Benefit Before Payments Begin' is 'Guaranteed payments when due', some financial institutions offer the choice of a single payment that is calculated as the present value of the remaining guaranteed payments (also known as the commuted value). |
| Annuity Survey Details |
| Prepared By |
Ivon T Hughes |
| Annuitant's Province |
Quebec |
| Name |
Client 1 |
| Birth Date |
October 14, 1929 |
| Sex |
Female |
| Annuity Type |
Single Life |
| Fund Type |
Non-Registered - Prescribed |
| Guarantee Period |
0 Years |
| Premium |
$150,000.00 |
| Purchase Date |
May 1, 2008 |
| Payment Frequency |
Monthly |
| Income Start Date |
June 1, 2008 |
| Death Benefit Before Payments Begin: None |
| Rank |
Financial Institution |
Monthly
Income |
Taxable
Portion |
Guaranteed
To End Of |
Notes |
| 1 |
Sun Life Assurance Company of Canada |
$1,308.94 |
$20.28 |
MAR-21-2008 |
|
| |
Financial Institution |
Reasons For Not Quoting |
| |
Bank of Nova Scotia |
Single life annuities are not offered. |
| |
Canada Life |
Please contact Head Office. |
| |
Equitable Life |
The Guarantee Period entered is too short. |
| |
Great-West Life |
The Guarantee Period entered is too short. |
| |
Manulife Investments |
The Guarantee Period entered is too short. |
| Death Benefit Before Payments Begin: Return of premium |
| Rank |
Financial Institution |
Monthly
Income |
Taxable
Portion |
Guaranteed
To End Of |
Notes |
Death Benefit
Interest Rate |
| 1 |
Transamerica Life Canada |
$1,320.51 |
$22.55 |
Not binding |
|
.00000% |
| 2 |
Standard Life |
$1,306.60 |
$15.85 |
Not binding |
|
5.00000% |
| 3 |
Sun Life Assurance Company of Canada |
$1,306.12 |
$17.46 |
MAR-21-2008 |
See below |
.00000% |
| 4 |
AIG Life of Canada |
$1,290.82 |
$0.00 |
Not binding |
See below |
.00000% |
| 5 |
Desjardins Financial Security |
$1,249.64 |
$0.00 |
Not binding |
See below |
.00000% |
| |
Financial Institution |
Notes |
| |
AIG Life of Canada |
If death occurs after the income start date, the remaining guaranteed annuity |
| |
|
payments will be commuted and paid in one lump sum to the beneficiary. |
| |
Desjardins Financial Security |
Other death benefit interest rates are available from the quoted company. |
| |
Sun Life Assurance Company of Canada |
Other death benefit interest rates are available from the quoted company. |
| |
Financial Institution |
Reasons For Not Quoting |
| |
Canada Life |
Please contact Head Office. |
| |
Empire Life |
The minimum guarantee period must be 5 years for ages over 75. |
| |
Great-West Life |
The Guarantee Period entered is too short. |
| |
Manulife Investments |
The Guarantee Period entered is too short. |
| Survey Notes |
| Not binding means that the length of time between the quote date and the Purchase Date is too long for the financial institution to commit. |
| When there is no Guarantee Period and the annuitants die, there is no death benefit and payments cease. |
| Annuity Survey Details |
| Prepared By |
Ivon T Hughes |
| Annuitant's Province |
Quebec |
| Name |
Client |
| Birth Date |
December 16, 1946 |
| Sex |
Male |
| Annuity Type |
Single Life |
| Fund Type |
Non-Registered - Prescribed |
| Guarantee Period |
15 Years |
| Premium |
$50,000.00 |
| Purchase Date |
June 1, 2008 |
| Payment Frequency |
Monthly |
| Income Start Date |
July 1, 2008 |
| Death Benefit Before Payments Begin: Guaranteed payments when due |
| Rank |
Financial Institution |
Monthly
Income |
Taxable
Portion |
Guaranteed
To End Of |
Notes |
| 1 |
Manulife Investments |
$279.46 |
$84.76 |
Not binding |
|
| 2 |
Great-West Life |
$277.74 |
$83.03 |
Not binding |
|
| 3 |
Canada Life |
$276.20 |
$81.49 |
Not binding |
|
| 4 |
Sun Life Assurance Company of Canada |
$271.52 |
$76.81 |
Not binding |
|
| 5 |
Equitable Life |
$270.77 |
$76.41 |
Not binding |
|
| |
Financial Institution |
Reasons For Not Quoting |
| |
Bank of Nova Scotia |
Single life annuities are not offered. |
| Death Benefit Before Payments Begin: Return of premium |
| Rank |
Financial Institution |
Monthly
Income |
Taxable
Portion |
Guaranteed
To End Of |
Notes |
Death Benefit
Interest Rate |
| 1 |
AIG Life of Canada |
$280.81 |
$86.19 |
Not binding |
See below |
.00000% |
| 2 |
Manulife Investments |
$279.41 |
$84.70 |
Not binding |
See below |
.00000% |
| 3 |
Great-West Life |
$277.68 |
$82.97 |
Not binding |
See below |
.00000% |
| 4 |
Desjardins Financial Security |
$276.59 |
$82.22 |
Not binding |
See below |
.00000% |
| 5 |
Canada Life |
$276.14 |
$81.43 |
Not binding |
See below |
.00000% |
| 6 |
Empire Life |
$273.02 |
$78.31 |
Not binding |
|
5.00000% |
| 7 |
Sun Life Assurance Company of Canada |
$271.47 |
$76.76 |
Not binding |
See below |
.00000% |
| 8 |
Transamerica Life Canada |
$270.91 |
$76.21 |
Not binding |
|
.00000% |
| 9 |
Standard Life |
$268.23 |
$73.86 |
Not binding |
|
5.00000% |
| |
Financial Institution |
Notes |
| |
AIG Life of Canada |
If death occurs after the income start date, the remaining guaranteed annuity |
| |
|
payments will be commuted and paid in one lump sum to the beneficiary. |
| |
Canada Life |
Other death benefit interest rates are available from the quoted company. |
| |
Desjardins Financial Security |
Other death benefit interest rates are available from the quoted company. |
| |
Great-West Life |
Other death benefit interest rates are available from the quoted company. |
| |
Manulife Investments |
Other death benefit interest rates are available from the quoted company. |
| |
Sun Life Assurance Company of Canada |
Other death benefit interest rates are available from the quoted company. |
| Survey Notes |
| Not binding means that the length of time between the quote date and the Purchase Date is too long for the financial institution to commit. |
| When the option for 'Death Benefit Before Payments Begin' is 'Guaranteed payments when due', some financial institutions offer the choice of a single payment that is calculated as the present value of the remaining guaranteed payments (also known as the commuted value). |
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