What is an annuity?

An annuity is a long-term contract that provides guaranteed income.

Here’s how it works:

  • Desjardins Insurance manages your savings and you receive the benefits.
  • You receive regular payments, for a set period of time or until you die, depending on the type of annuity you choose.
  • Your payment amounts are based on factors such as your life expectancy, the guarantee period and the interest rates in effect.

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Getting ready to retire?

There are lots of ways you can convert your RRSP or other savings into retirement income. Annuities fit in nicely with a balanced retirement income strategy.

You can use an annuity to:

Obtain income to cover your basic needs

Annuities provide guaranteed, regular income that you can use to cover your basic needs, like rent, food and transportation. You also have the option of protecting your annuity against inflation to help you keep up with cost-of-living increases.

We offer a number of annuities and options. Choose what’s right for your needs!

Types of annuities

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Features Life annuity Term certain annuity
Protection for your spouse (or a beneficiary of your choosing)


If you die before the end of the guarantee period
Payment Period
Until you die
You can also choose to have annuity payments continue for your spouse or a beneficiary after your death
Set period
Minimum: 1 year
Maximum: until you turn 90
Monthly payment amount (determined at purchase)
Based on your life expectancy and amount invested
Not impacted by market fluctuations
Based on the guarantee period
Higher than a life annuity
Indexation (inflation adjustment): Your payments will increase to keep pace with the cost of living


Joint and last survivor option: After you die, your spouse will continue to receive annuity payments for life

Guarantee period: Your payments are guaranteed for a set period of time. If you die before the guarantee period ends, your beneficiary will either receive the death benefit or continue to receive annuity payments for the remainder of the period

Protection from Assuris: If your insurer declares bankruptcy, you'll still receive your annuity payments up to a maximum amount protected by Assuris

This is only a general description of coverage. A complete statement of coverage is found only in the policy. 

For more details on coverage, costs, restrictions, and renewability, or to apply for coverage, contact your State Farm agent.

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State Farm agents do no provide tax, legal, or investment advise. Please consult your tax, legal, or investment advisor regarding your specific circumstances.

The products described in this document are manufactured and issued by Desjardins Financial Security Life Assurance Company.

® State Farm and related trademarks and logos are registered trademarks owned by State Farm Mutual Automobile Insurance Company, used under licence by Desjardins Financial Security Life Assurance Company.

Issued by:

State Farm International Life Insurance Company Ltd.

Aurora, Ontario

Licenced in Alberta, New Brunswick and Ontario