Canvas AnnuityReviews of canvasannuity.com

Easy online setup

Easy process. No issues

Hated the whole registration process. Gainbridge was MUCH easier and only took about five minutes. They didn't REQUIRE pictures of BOTH sides of DL. I am tempted to go away from Canvas just because of the bad registration process.

Very professional and easy process.

Very helpful

A few things. I have been with Canvas for 4 years now. I have a few annuities with them, but one is fixed where I draw the interest monthly. Deposits are supposed to be made on the 28th of each month to my bank account. I have never ever touched the principle just the interest. I had taken out a 3 year fixed at 4.6% I received payments on the 28th each month which varied if it was a 31 day month 30 or 28. That policy renewed on mid year of 2025 6% interest.Payment started going all over the place different amounts & dates where prior it was steady. I called & was told it was the new 3rd party admin they don't have the capabilities the old one had (keep 3rd party in mind for later). Now this is a fixed which is simple math it is NOT compounding interest. So this comes down to grade school math Principle X interest rate = interest paid / 365 = amount paid per day. Now keep in mind that there are no hidden charges so Canvas claims. But there obviously are that they don't disclose. I asked BEN in depth questions on this & he answered the same as that math figure I just demonstrated. I then decided to go to an accountant & he said that is how it should work. I then decided to take 2 of the 1099r's that they had sent me that were a full physical year & to my surprise I was NOT getting 4.6% but was getting 4,499618% Now add that up even with the new rate Canvas has shorted me over $620.00 so far to date. now it is 3/2 no payment I'm supposed to be paid on the 28 of Feb. I brought this to their attention in real detail showing how their figures are off. Answer received: Based from a higher level Interest levels can be effected by several factors, Timing, Daily Calculations (what daily calculations it's fixed) Adminastrating processing (there are supposed to be no fees even Ben said so when interviewed) it even states that on their web site. I was told it would be sent to a higher authority for review back on Feb 5, 2026. I have heard nothing. Now as for the 3rd party today I'm told that it's the accounting dept. I have to deal with which means there is no 3rd party & that is why I was never given there name or phone # after requesting it a few times. Today I wanted to speak to the head of accounting & was told they don't have their name or phone number. If you are on a fixed annuity that you are withdrawing interest only I strongly suggest that you check your 1099R that is a full physical year & you will find that you are NOT being paid the monthly interest that you are supposed to be paid. I'm a senior citizen & I find this disgraceful that there are hidden fees & can't be paid on time & the monthly payout are all over the place in amounts. When they take your money they are a faduciary & have the responsibility to meet their obligations.

Ease with the application process and rates

The process seemed very easy thank you