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Annuity Certain

Main Features

  • The annuity certain pays the annuitant a fixed annuity for a set time.
  • There is no minimum-age restriction for taking out this type of annuity. However, the annuitant’s age, current interest rates, and the length of the contract are important criteria in establishing an annuity certain and determining the payment amount.
  • Usually, the annuity certain is offered for periods of 5, 10, or 15 years and can also be paid until the age of 90.
  • An annuity certain can be paid monthly, quarterly, semi-annually, or annually.

Major Advantages

  • Such annuities can be indexed so that they provide income that grows until the end of the guaranteed period. It can also be coordinated with the federal government’s Old Age Security benefit if the annuity is registered.
Warning: The above text is of general nature and is intended for explanatory purpose only. Each of the products described above has its own specific features. Moreover, only the product contracts contain the complete terms and conditions as well as restrictions and exclusions to which they are subject.