Annuity Information

For advice or quotations for any type of annuity, with no obligation, please call one of our qualified advisors
0845 365 2410 quoting ref WS9
(Advisors are available Monday - Friday during normal office hours)

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I want a standard pension annuity quotation (includes fixed and variable rates).
I want an impaired life pension annuity quotation (includes fixed and variable rates).
I want a smoker pension annuity quotation (includes fixed and variable rates).
I want a purchased life annuity quotation (not for pension funds).
I want a quote for an immediate care annuity.
I want a quote for long term care annuity.
I want to discuss my annuity options with a financial adviser (no obligation).
I want advice regarding a pension transfer.

Annuity Information

Annuities are similar in principle to a life insurance policy. With a life insurance policy (for example a term insurance plan) you would normally pay a monthly premium and if there was a claim due to the demise of the insured person during the policy term then there would be a payout from the insurer based on the sum insured that had been chosen at outset.

Therefore with some forms of life insurance, you would get a pre-determined amount of money given to your beneficiary that would be dependant upon the terms and conditions of the policy, in particular the basis sum insured.

With a pension, to accumulate a pension fund, which in turn will have to be used to purchase an Annuity, you would need to make periodic payments or lump sums to either a financial institution or an insurance company. The amount you pay each period and for how many years, would determine how much of a pension fund you could accumulate, and based upon this is the amount of the annuity payments you would receive.

Annuities and Retirement

Retired people who have saved during their working years and put money into their pension plan, normally use those funds to purchase a Pension Annuity.

Annuity Benefits

The biggest benefit from buying an annuity is if you believe you will outlive your savings. If you have only saved £100,000 and retire at age 62, then that money, along with any other savings and Social Security payments, will probably have to last you anywhere from 10-25 years. With an annuity, you would exchange the £100,000 for a guaranteed monthly income for the rest of your life.

Buying an Annuity

Choosing an insurer or other financial institution to purchase and handle your annuity is similar to shopping around for the best bank account with the highest interest rates or finding an insurance policy with the best premiums. There are many, many options from which to choose.

UK IFA NET provide fully independent Annuity Advice for your individual requirements. Simply click for a quote. Alternatively speak to one of their highly experienced consultants today on 0845 365 2410 quoting ref WS9 or fill out our online quote request form and one of their advisors will contact you.