Life Annuities

Life Annuities

A guaranteed income for life.

A Gift of Certainty in an Uncertain World

Our Guardianship of Assets strategies, which is the third step to achieving total financial freedom, include longevity risk management techniques. We ensure that your income and assets are well-protected, allowing you to focus on growing your wealth for multiple generations without undue worry about your ownself.

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Protecting your lifetime income is crucial to maintaining financial security. This step involves safeguarding against the risk of running out of money in retirement specially during the old age.

Meeting the needs of our clients’ longevity risk often involves the use of modern insurance programs not usually available for retail investors that are tailor-made for specific protection requirements. As an independent broker, we are positioned to search the market for the best product mix to meet your specific needs.

Understanding Your Annuity Options

Understanding the variety of annuities available can help you tailor a solution to your specific retirement income needs. The most fundamental distinction is between Life Annuities, which provide guaranteed income for your entire lifetime (addressing longevity risk directly), and Term Certain Annuities, which offer payments for a predetermined number of years. You can choose an Immediate Annuity if you need income to start right away, or a Deferred Annuity to begin payments later. Annuities can also be Fixed, providing unchanging payment amounts, or Variable/Indexed, where payments might fluctuate based on market performance, potentially offering growth but also carrying risk. Further customization includes Joint Life options to cover both you and a spouse, and Guarantee Periods to ensure payments continue to a beneficiary for a set time if you pass away early. Each type and feature involves different considerations regarding security, flexibility, and cost, making personalized guidance valuable.

Types of Annuity Plans Available

The following is a list of some of the different types of annuity plans available to our clients through us.

Life Annuity

Guaranteed income for life. Great for longevity protection.

Joint Life Annuity

Covers two lives most ideal for couples wanting lifelong income security.

Term Certain Annuity

Guarantees income for a fixed period. Good if you want to leave a legacy or bridge to other income.

Deferred Annuity

Income starts later most ideal for those still working or delaying retirement income for tax planning.

Immediate Annuity

Starts paying almost right away. Perfect for instant income need.

Fixed Annuity

Steady, predictable income not affected by markets. Peace of mind.

Variable Annuity

Income fluctuates with investment returns, but can offer guarantees. Allows growth potential with downside protection.

Indexed Annuity

Payments rise with inflation or index performance. Helps keep up with cost of living.

Prescribed Annuity

For non-registered money—provides tax-leveling benefits (stable taxable amount). Great for tax planning.

Impaired Risk Annuity

Higher payouts for those with shortened life expectancy. A fairer option for those in poor health.

Non-Prescribed Annuity

Standard tax treatment with higher taxes early on, lower tax treatment later.

Integrated Annuity

Higher initial income that tapers off when CPP/OAS kicks in. Smooths retirement income needs.

For more information on life insurance in Canada, please visit the Canadian Life and Health Insurance Association (CLHIA).

Annuities Frequently asked questions

A life annuity is primarily designed to provide a guaranteed income stream that lasts for the entire duration of your life. Its core function is to offer financial security in retirement, especially in old age, by mitigating the risk of outliving your savings.

 

Longevity risk is the risk of outliving your retirement savings due to old age. Life annuities directly address this by converting a lump sum of money into a stream of income that is guaranteed to continue for as long as you live, effectively transferring this risk away from you. By purchasing a life annuity, you transfer both the investment risk and the longevity risk to the insurance company. The insurance company takes on the responsibility of managing the funds and ensuring the guaranteed income stream continues for your lifetime.

 

Once you purchase a life annuity, you receive regular payments for the rest of your life. This ensures a consistent and predictable income stream, offering peace of mind and stability in your retirement planning.

 

There are numerous advanced annuity options designed to meet specific needs and financial goals. At Hexavision, the priority is not just choosing a product—but ensuring each solution maximizes the efficiency of your money at work.

Life Annuity for longevity protection.

Joint Life Annuity for couples wanting lifelong income security.

Term Certain Annuity to ensure Guarantees income for a fixed period.

Deferred Annuity for those still working or delaying retirement income for tax planning.

Immediate Annuity starts paying almost right away. Perfect for instant income need.

Fixed Annuity for Steady, predictable income not affected by markets. Peace of mind.

Variable Annuity also called Segregated Funds – the Income fluctuates with investment returns, but can offer investment guarantees. Allows growth potential with downside protection.

Indexed Annuity where the Payments rise with inflation or index performance. Helps keep up with cost of living.

Prescribed Annuity for non-registered money that provides tax-leveling benefits (stable taxable amount). Great for tax planning.

Non-Prescribed Annuity for Standard tax treatment—higher taxes early on, lower later.

Impaired Risk (Age-Rated) Annuity provides higher payouts for those with shortened life expectancy. A fairer option for those in poor health.

Integrated Annuity for higher initial income that tapers off when CPP/OAS kicks in. Smooths retirement income needs.

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Tajinder Puri

National Director of Corporate Structuring and Cross-Border Taxation

CPA (CAN/USA), CA

With over 26 years of experience as a Senior Tax Auditor for the Canada Revenue Agency (CRA), Tajinder Puri is a distinguished authority in tax and strategic business structuring. He brings an unparalleled “insider’s perspective” to the Hexavision Team. Tajinder’s clinical eye for detail ensures that our clients’ wealth architecture is not only tax-efficient but stress-tested against the highest level of regulatory precision.

Throughout his two-and-a-half-decade career with the CRA, Tajinder specialized in high-stakes areas including international taxation, cross-border transactions, and tax planning for multinationals. He is a recognized expert in transfer pricing, inter-corporate reporting, and base erosion transactions—sophisticated domains that allow him to identify and neutralize “wealth leakage” for high-achieving families and corporate entities.

Tajinder’s global expertise is backed by an elite set of credentials, including CPA designations in both Canada and the USA, and a Chartered Accountant (CA) designation from India. This dual-border mastery provides Hexavision clients with seamless solutions for international tax minimization, business succession, and complex estate planning.

At Hexavision, Tajinder leads our tax division. He is dedicated to uncovering hidden structural inefficiencies and implementing the advanced, audit-proof strategies required to help our clients stop money leakage and achieve Total Financial Freedom.

Anil (Andy) Sud

General Insurance Specialist & Financial Freedom Consultant

General Insurance Specialist, Financial Consultant

Anil (Andy) Sud is a highly experienced Insurance Consultant with over 42 years in the customer service field. Known for his dedication, reliability, and in-depth knowledge, he brings a passion for exceptional client care to both life and non-life insurance sectors.

Andy excels at building long-lasting, trust-based relationships with clients, approaching each interaction with genuine empathy and a commitment to helping others. His attention to detail ensures clients receive personalized, well-thought-out solutions, while his careful handling of sensitive information provides peace of mind.

Andy’s extensive experience includes working with clients from diverse backgrounds and communicating effectively through face-to-face meetings, online channels, phone calls, and email correspondence.

A skilled communicator, he is fluent in English, Hindi, Urdu, Punjabi, and Dogri, which helps him connect deeply with a broad range of clients. Andy’s dedication to client satisfaction and deep expertise make him a valuable asset in the insurance industry.

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Jorge Ramos

National Director of Advanced Planning, Group and Corporation Strategies

CFP, CSA, CLU, CHS, TEP, Life License, Securities License, RIBO License,

Jorge Ramos is an elite strategist specializing in trust and estate architecture and complex corporate wealth preservation. As a Trust and Estate Practitioner (TEP) and Certified Financial Planner (CFP), Jorge brings an institutional-grade level of expertise to the Hexavision team, ensuring that our clients’ wealth is not only grown but protected for generations.

With over a decade of leadership experience as the National Director of Advanced Planning for two of Canada’s largest financial institutions, Jorge has spent his career at the intersection of high-level strategy and clinical execution. He is a master of navigating the complexities of multi-generational wealth transfer, corporate structuring, and the design of “Legacy Fortresses” that shield family assets from unnecessary erosion.

At Hexavision, Jorge serves as the heart of our implementation process. He doesn’t just design advanced solutions; he leads the execution, ensuring that the theoretical blueprint becomes a functioning financial machine. His ability to translate complex estate laws and tax-efficient structures into actionable steps provides our clients with the absolute certainty that their plan is being built to the highest standard of precision.

Beyond his technical mastery, Jorge is a passionate advocate for financial literacy. He is the founder of ‘Camp Millionaire’ in Canada, a program dedicated to teaching the next generation the foundational life skills of money management. His commitment to education and his clinical approach to strategy make him an indispensable partner in our clients’ journey toward Total Financial Freedom.

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Kanwaljit (Sunny) Kochar

CEO & Founder of Team Hexavision, Retirement Planning and Management Specialist

B.Com, PMP, CBAP

Kanwaljit (Sunny) Kochar is the visionary force behind Hexavision, boasting over 30 years of experience across various industries. His diverse background and innovative approach to retirement planning and management have empowered countless Canadians to achieve their financial dreams.

As a personal financial coach, Sunny collaborates with a team of like-minded professionals to help Canadians grow their wealth three times faster. His holistic strategy not only focuses on getting clients out of bad debt but also on achieving total financial freedom.

Sunny’s approach allows clients to retire early and wealthy without the need for strict budgeting, enabling them to enjoy life’s pleasures—whether that’s taking vacations, treating their kids, or spending quality time with family.

His passion for financial empowerment and commitment to his clients’ success make him a trusted partner in their journey towards total financial freedom.

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