Fixed Rate Annuity

Fixed Rate Annuity Quotes

For retirees, the benefits offered by a fixed annuity plan is that it will provide a guaranteed level of income for life. By taking out an annuity plan, you are effectively trading in your pension fund and any rights you have to it for a guaranteed income for life. Please note that for most pension funds your are entitled to a certain level of tax free cash when you retire typically 25% of fund.

 

The amount you will recieve for your pension fund will depend on a number of factors, such as age, gender, pension size, medical history (not all annuity providers factor this in). As one of the more popular types of annuity option a fixed or level rate annuity plan can provide you with a guaranteed income for life. As the income is fixed it will not be protected against the potential erosionary effects of inflation over time so this needs to be considered. You do have the option of buying a escalating annuity or a inflation linked annuity - these options are expensive and so you need to think these options through and take advice if you require it.

 

In order to receive the best possible rate on a fixed annuity policy, it is recommended to take what is known as the ‘open market option’ wherever possible. Comparing annuities by shopping around different insurers will help you find the most competitive results.


 

See below to get quotes and advice from an annuity broker:

Annuity Quote Services
ProviderAnnuity QuotesAnnuity ServiceSpecial FeaturesGet Quotes
YesComparison of leading UK annuity providers. Enhanced annuities available if you have a medical condition. Enhanced rates available for smokers.Up to 40% more incomeGet Quotes >

 Important Risk Information:

This website contains information only and does not constitute advice or a personal recommendation in any way whatsoever. The value of investments and income from them can fall as well as rise and you may not get back the full amount invested. The tax efficiency of ISAs is based on current tax law and there is no guarantee that tax rules will stay the same in the future.

Different types of investment carry different levels of risk and may not be suitable for all investors. Please ensure that you read the Important Risk Information for further details. Prior to making any decision to invest, you should ensure that you are familiar with the risks associated with a particular investment and should read the product literature. If you are in any doubt as to the suitability of a particular investment, both in respect of its objectives and its risk profile, you should seek independent financial advice.