BRITISH COLUMBIA ANNUITY

Annuities in British Columbia

An annuity in British Columbia is a contract between an individual and an insurance company  where the individual provides a lump sum of money to the insurance company and the insurance company guarantees a lifetime income to the individual. This arrangement essentially creates a guaranteed income stream for the rest of that individual’s  lifetime.

Whether you are learning about annuities for the first time or you are seeking further information about whether or not they are right for you, I believe we have provided enough information on this website in order for you to decide if an annuity would be meaningful to you. As an annuity broker, I have over thirty years of experience with annuities and the insurance companies that sell them. If you would like to speak with me directly and reside in the lower BC area, you can call me anytime at 604-535-2404. If you reside outside of the lower mainland, call toll free at 1-800-667-8818.

It’s likely that you are curious about the amount of income you can obtain monthly from the amount of capital you have to put towards an annuity purchase, so we have provided a quick and easy way to provide you with this information. Below is a list of the Canadian life insurance companies that sell annuities in your area. If you scroll down past the insurance company names, you will find a list of the cities in British Columbia that we service. If you click on the city that is nearest to where you reside, you will find an annuity request form which you can simply send to us and you will receive a free annuity market survey of the annuities that are available to you along with the payouts offered by the insurance companies. More annuity information is available on the page that represents your city. If you still have questions, you can call John Beaton at 604-535-2404 in the lower B.C. mainland or 1-800-667-8818 if you reside outside the lower mainland.

The following Canadian life insurance companies sell annuities in British Columbia.

The following are the cities in British Columbia where I represent and sell annuities for any of the above named insurance companies. If you reside in or near any one of these cities, click on the city name to be taken to a request for a free annuity market survey that will reveal to you what current payouts are offered to you.

Request A British Columbia Annuity Quote

If your province of residence is British Columbia, Beaton Annuity Services  will provide you with a personalized annuity market survey showing the current best payouts of all the Canadian life insurance companies that do business in British Columbia.

BC Annuity Form

Please note that the term guarantee period refers to the period of time that the insurance company must make payments to you, whether you are alive or dead. For a life pay annuity the most common guarantee periods are 5 years for registered funds and 7 years for non-registered funds. For a term certain annuity, guarantee period outlines the total length of time that payments are to be made to you.

There are four parties to a life pay annuity contract.

• The issuer is the life insurance company that provides the annuity contract and issues the annuity.
• The owner is generally the person who purchases the annuity from the insurance company, but the funds to purchase the annuity might come from a third party, such as a parent, grand-parent, etc.
• The annuitant or annuitants are the people whose lives are used to determine the amount of the benefit payments to be made. The annuitant or annuitants are normally, but not exclusively, the owner.
• The beneficiary is the person who will receive any death benefit available should the annuitant pass away before all guaranteed payments have been made to the annuitant(s).