Still the most popular retirement income product available. A lifetime annuity will guarantee you a fixed income for your whole retirement. All our quotes are for lifetime annuities. We will also quote for enhanced lifetime annuities, where your income is improved due to health or lifestyle factors.
It isn’t the most pleasant subject but life expectancy is an important factor when you’re trying to maximise the income you could get from an annuity. If you’re a smoker, are overweight, a diabetic or you suffer from a serious illness there is a good chance we can get you a higher income rate than you would receive from a standard annuity.
Fixed term annuity
Provides an income for a set number of years, often between three and twenty. At the end of your chosen period you will also receive a maturity amount. You can use the matured proceeds to invest in a different product or you can take the money out of your pension.
You can opt for a guaranteed or investment-linked income. If you select a guaranteed income you can choose how much income you receive. The more income you choose, the lower the maturity proceeds will be.
Investment linked annuity
Considered to be a potentially riskier option, the investment linked annuity ties the income from your pension to the performance of your chosen investment. Many options are available and we would always suggest seeking professional advice before investing your hard earned savings.
Long term care annuity
Also known as an immediate care plan, long term care plan or immediate needs annuity, this annuity, instead of paying you directly, can pay a registered care provider for your long term care.
It’s worth noting that a long term care annuity isn’t guaranteed to cover all of your care costs. If the annuity isn’t worth enough to cover the entire cost of your care, you’ll have to make up the difference.
We would always recommend taking specialist advice before purchasing this type of annuity.