subject: Increase your retirement benefits by securing the best annuity quote [print this page] Increase your retirement benefits by securing the best annuity quote
Are you thinking yourself... "how can I find the leading annuity rates ? This can be the most important question to ask yourself because it can mean a much greater pension income, which is something everyone needs in a downturn.
Taking just a short while to understand how the pension annuity system works could be worth thousands of pounds in the future, despite the inconvenience in the short term. Most in this world will not enjoy reading about pension, finance, income, inflation and other associated information.
Straight from the off you should know that it is critically important you shop around for the best rates. Annuity offers alter between providers so make sure you consult more than one company before agreeing an annuity product. Without doing this will mean you will never know what the best annuity offer was. This could mean you miss out on a higher retirement income, which could range from fifty pounds to five hundred pounds.
To ensure you do not end up being in this difficult situation always talk to an annuity expert. They should assist you in getting the best deal on the market, despite rates being very low. On many occasions this expert help will be offered without a cost, however you will incur a cost for independent financial advice.
In spite of this resulting in the annuity buying period more protracted, it does normally end up with a better offer. Getting an annuity will only occur just once so ensuring you make the right decision is critical. Many people who fail to shop around for annuity find that they massively regret this decision, once they know how much money they are missing out on There are plenty of reasons why someone would not shop around for an annuity, but many people still blame the lack of information for potential annuitants.
It is also worth noting that by contrasting offers you could increase your pension by up to 40%. Ponder as to how much of a difference this could make to your income and living standard. Although it should be said, this is only for those who qualify for an enhanced annuity. It is also worth noting that 40% is only given for life threatening conditions such as a a history of heart problems.
A lot of people wrongly assume that they have to buy their pension annuity from the company with which they have been building up their pension with. This is not true, in fact you can buy your pension from a company of your choosing, it's what is known as using the Open Market Option (OMO). Some recent estimates have shown than around 60% of annuitants did NOT shop around for the best deal. It is also highly unlikely that your current pension provider has the best annuity offer for you, which means you will miss out on a potentially higher retirement income if you do not compare providers.
These are handed out to pensioners who have medical conditions that impact on their life expectancy. The thinking behind this is that the annuity firm will have to pay income for a reduced length of time. So from the provider of the annuity, the quicker you pass away, the more money you make as the income period is shorter. In some instances enhancements can be awarded due to lifestyle choices such as smoking on a regular basis.
So, to be sure that you don't miss the only chance boost you annuity income, contrast annuity offers today.
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