Annuities
Annuities provide you with a steady income during your retirement. The type of annuity you will buy depends on several factors including how long you think you will need the income. Annuities are like a life insurance policy. You buy an annuity with funds from your RRSP or non-registered funds. There are several types of annuities: straight life annuity, term certain annuity, joint and last survivor annuity. There are also cashable, indexed, deferred and impaired annuities.