Is A Deferred Annuity An Insurance Contract? 
In Canada , deferred annuities are considered to be insurance policies . Guaranteed Investment Annuities -LRB- GIAs -RRB- are similar to Guaranted Investment Certificates -LRB- GICs -RRB- the interest and principle in both are guaranteed . An example of the Guaranteed Investment Annuity 's `` insurance element '' is the annuity or monthly income . Guaranteed Investment Funds -LRB- GIFs -RRB- , are segregated funds and are similiar to mutual funds.The funds invested in both are at risk . However , Guaranteed Investment Funds , in addition to the annuity or income element offer maturity and death guarantees of 75 % to 100 % . These investment vehicles offer benefits that could prove to be valuable . For more information please visit JPW.ca or contact me via this web site . 