Annuities
Guaranteed retirement income, even during times of economic instability

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A Life Income Fund (LIF) is a type of Registered Retirement Income Fund (RRIF) you can dip into throughout your retirement while your savings continue to grow.
It’s used to convert a locked-in retirement plan such as a LIRA or pension fund before the end of the year you turn 71, when you want to start withdrawing income.
Withdrawals range from an annual minimum to maximum amount (based on age and province) to spread income over your lifetime.
Unlike an annuity, you can choose your investments according to your situation and even invest in foreign securities.
Life income can be requested at any time for your retirement. Before age 65, you can even add supplementary income – temporary income.
If you have a LIRA or a pension and you’re about to retire or turn 71, that’s your cue to talk to one of our advisors1 about LIFs.
Together, you map out your plan: time horizon, spreading payments throughout your retirement based on your savings, and your risk profile.
Even if you can’t contribute to your LIF, you can still manage your investments to reflect your needs.
Your investments continue to grow tax-sheltered until withdrawn.
Your retirement plan and annual needs will determine your income. However, it must be between the minimum and maximum permitted by legislation, depending on your age and province. The amount withdrawn then becomes taxable.
If your LIF still holds funds at the time of your death, the balance is paid to your spouse or heirs in a lump sum.
The scenario shown here is for demonstration purposes only2 and should not be relied upon as financial or other advice.
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Under certain conditions. So, you're really guaranteed an income for as long as you live.
Sums invested in savings and retirement plans are protected by Assuris. See the leaflet for full details.
Enjoy the flexibility of a Beneva LIF and convert your savings at any time to a term certain annuity or a life annuity.
Guaranteed retirement income, even during times of economic instability
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A hybrid guaranteed interest account: Market exposure meets guaranteed earnings
Diversified funds and portfolios that deliver on performance
Investing with capital guarantees and protection against market downturns