Annuity Best Buy Deals
Annuities, in general terms, refer to the selling of your pension to an insurance provider in return for an income. You are effectively trading your pension for the promise of a generated income. The most common reason for people investing in annuities is because they are retiring.
Finding the best annuity buys on the market may take you longer than your expected, but it is worth spending a little time researching and doing your homework on the type of annuity policy. Transferring your pension into annuities is a serious decision as you will not be allowed to change your decision once you have finalised the agreement with your insurance provider.
When reviewing your application to buy annuities, insurance underwriters will take into consideration a number of factors including:
Your gender (until Dec. 2012 when there will be an equalization of annuity rates for men and women)
Your age - generally the older you are the better the rate
Your state of health - if you are in poor health you can benefit from a better annuity deal
The amount of money you have in your pension.
See below for our partner service to shop around the UK annuity market: