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: