subject: Guarantee the most lucrative pension income by substituting retirement annuity firms [print this page] Guarantee the most lucrative pension income by substituting retirement annuity firms
Of course this is something most of us will not consider until we get to retirement as we simply don't have time. There are a catalogue of excuses why we don't ponder annuities in life such as... lack of disposable income, lack of awareness and lethargy.
Pension workers can find this quite astounding as securing the best annuity can mean boosting your income by as much as 40% or more.
The first dilemma to solve when looking for an annuity is.... where do I go to find the best annuity calculator? There are a number of places to start when looking for the best annuity such as... an Independent Financial Adviser, your incumbent pension company and the web. All of these have plus points and negative points, so be in no doubt you choose the most suited option for your situation.
You may think it seems like a labourious task from your perspective, but seeking the best counsel is critical when shopping for a retirement annuity. If you choose to not shop around for an annuity you could miss out on a better income in retirement. Many UK annuitants are now rueing the fact they failed to compare pension providers.
A selection of these pensioners could have also been qualified to receive an enhanced annuity, which could have the result of them now missing out on a higher retirement income. It should be recorded however that the 35% rate increase is only offered to those people who suffer from serious medical impairments. Here are a selection of medical conditions which can equate to higher rates... heart attacks, high blood pressure and obesity.
You could be of the mind that.... 'I have never personally been ill like this'. Even if you haven't been this ill you could might still be eligible for an annuity that is better than a conventional annuity. It is commonplace to be presented with higher rates if you are prone to drink alcohol a lot or smoke tobacco. The best way to proceed would be to always inform your annuity broker of any ailment or lifestyle choice which may effect how long you live for.
The explanation of why insurers offer better deals to those with illnesses is that they will pay an income for a fewer number of years. It can also be said that enhanced rates can be acquired if the annuitant suffers from any of the following liver transplant, muscular problems or arthritis. As you can see it is plainly obvious there are dozens of different medical conditions which could increase your annuity.
So to ensure you don't miss the opportunity of earning a bigger annuity income, compare pension annuities today.
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