Annuities

If you are looking to have Annuities explained or just find the best Annuities then we can help.

Here at Pension Forecast we can give you access to advisers who will help you to compare annuities and offer enhanced quotes for you.

They have some unbeatable annuity rates available currently so just fill out the no obligation enquiry form now and we can get a annuities specialist to talk to your options through with you.

Annuities Explained

An annuity is usually taken out by an individual to give themselves an income in retirement. You hand over to the insurance or pension company the fund of money that you have accumulated over the years and in return they provide you with a regular income.

The type of income you choose is up to you but typically people opt for either level (no pay rises each year) or increasing. Is there just you to consider or would you want to have the pension carry on paying out after your death to the benefit of someone else. This would be known as a widows (or widowers) pension.

The amount the companies offer you in return for your pension pot can vary greatly based on many different factors. First of which is of course life expectancy.

Annuities are pay out till the last surviving annuitant dies if a widows pension is taken out so obviously the company then has two peoples life expectancy to consider.

The insurance company does benefit if the annuitant dies shortly after retirement but on the downside they must pay as long as the policy holder survives. They therefore lose out on some cases where the retiree lives well past 100.

This balancing out affect allows the pension companies to take a longer term view when setting annuity rates that they are [prepared to offer.

Other options you need to consider is a guaranteed minimum pay out term, regardless of the age when you die. Annuities with these minimum pay out terms are available from virtually all UK annuity companies.  You will need to nominate a beneficiary to the insurance company when you take out the annuity and keep them up to date if this were to change.

There is a big market now in impaired life annuities, these are for people who smoke and those who have an illness or are on medication. As the life expectancy is less the rate you will get offered is going to be better.

So for the best Annuities fill out the enquiry form at the top of the page.