Turn your savings into guaranteed lifetime income — no market worries, just peace of mind.
At Citadel Financial Wealth Group (CFWG), we understand the importance of financial security in retirement. A life annuity offers a reliable solution by providing you with a guaranteed income stream for the rest of your life, ensuring peace of mind and stability in your golden years.
A life annuity is a financial product that converts a lump sum of your savings into a steady, predictable income for life. By purchasing a life annuity, you transfer the risk of outliving your savings to the insurance company, securing a consistent income regardless of market fluctuations or how long you live.
Description: Provides income for the lifetime of one individual.
Ideal for: Individuals seeking maximum income without the need to provide for a spouse or partner after death.
Description: Continues to pay income as long as one of the two annuitants is alive.
Ideal for: Couples who want to ensure financial security for both partners.
Description: Pays income for a specified period (e.g., 10 or 20 years), regardless of whether the annuitant lives that long.
Ideal for: Those looking to cover specific financial obligations over a set period.
Description: Begins payments at a future date, allowing your investment to grow before income starts.
Ideal for: Individuals planning for future income needs, such as retirement.
Receive regular payments for life, providing financial stability.
Once set up, no need to manage investments or worry about market volatility.
A portion of each payment may be tax-free, depending on the source of funds used to purchase the annuity.
Eliminates the risk of outliving your savings
Our advisors will walk you through the process and have it set up correctly for you in no time.
Consider a life annuity if you:
Desire a predictable and stable income in retirement.
Are concerned about outliving your savings.
Prefer a hands-off approach to managing retirement funds.
Want to ensure financial security for yourself and possibly a spouse or partner.
Check your price: no commitment, just quotes!
Apply online when you’re ready.
Licensed Canadian advisors are available by phone Monday to Sunday.
Give us a call at: +1 (877) 273-5614
Our advisors care, so there’s no pressure or upselling.
If purchased with registered funds (e.g., RRSP), payments are fully taxable. If purchased with non-registered funds, a portion of each payment is considered a return of capital and is not taxed.
Life annuities are generally irreversible; once purchased, you cannot access the lump sum. However, certain annuities offer features like guaranteed periods or refund options.
If you selected a guaranteed period or a joint annuity, payments may continue to your beneficiary or surviving partner. Without these options, payments typically cease upon death
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© 2025, Citadel Financial Wealth Group (CFWG). All rights reserved. Citadel Financial Wealth Group is a licensed insurance brokerage in Canada, proudly serving individuals, families, and businesses across the country.
CFWG offers life, health, and group insurance products through partnerships with many of Canada’s leading insurers. Insurance policies are subject to underwriting approval and may include limitations, exclusions, or waiting periods. Always refer to your official policy documents for complete terms and coverage details. In the event of any conflict, your policy contract will take precedence over information presented on this website or in any CFWG print or digital content.
CFWG is licensed and operates in the following provinces and territories:
Ontario (FSRA #36494M)
Alberta (License #5-11164367-2020 & 6-11164367-2020)
British Columbia (License #2022-0036740-R01)
Saskatchewan (License #09178)
Newfoundland and Labrador (License #23-78-CI090-1)
New Brunswick (License #210031147)
Nova Scotia,(License #2333071070000)
All pricing comparisons displayed on this website are based on current publicly available rates and may vary based on your health, age, coverage amount, and insurer. Timeframes for approval and policy issuance may vary depending on your application and underwriting requirements. In some cases, additional documents or medical examinations may be necessary.
Head Office:
150 King Street West, 2nd Floor, Suite 335
Toronto, Ontario M5H 1J9, Canada
