subject: Some Of The Reasons To Get An Annuity Account To Save Money [print this page] It is certainly a worthwhile plan to take some time to mull over the reasons to spend, save or invest your money.
To help you through the minefield, here are some of the advantages to taking out an annuity and how it can turn your savings around.
If you do choose to have an annuity then even if you should die before you reach the appropriate age your loved ones can still be protected thanks to annuity protection. Due to this option, a spouse or partner can receive a lump sum upon the event of your death. Although, this money would be subject to tax; this does make sure that your money will not be lost and that your loved ones will get some financial support. This addition means that an annuity can aid your family when they have to pay for your funeral and can make the whole ordeal less stressful.
If you live a unique style of life or are in very poor health then you may be interested in taking up a more unique insurance policy. This type of annuity is appropriate if lifestyle factors, such as drinking or smoking, suggests that you may live less than other people do who have different lifestyles. Some of the other conditions that may make you eligible for this type of annuity include obesity and various forms of degenerative disorders. Therefore, if you worry that you may not reach the age of 75 years old then you could well find it reassuring to know you can claim some of the annuity.
An annuity is available with a wide selection of options, making the perfect for a range of personal circumstances. For example, you may want to take out either a single-life or joint-life annuity. A single-life annuity gives you an income for your life and ceases on your death; whereas a joint-life annuity will carry on paying your spouse after you have passed on. You can even choose how much money is paid out and when; as you may have decided that you want over half of the initial income to be given to your spouse. There is even inflation proof annuity.
A policy could well save you money as different suppliers can offer you some great deals at good rates. So if you are interested in an annuity then it is a good idea to shop around and work out which offers and benefits are ideal for you. First you want to discuss with your pension advisor, look at the options you may have analyse the market. For your research you may decide to contact different companies or browse a website to list the latest rates and offers. For instance, looking for the best annuity from www.InvestmentSense.co.uk may be an ideal starting place.
One of the main positives of a retirement annuity is that it allows you the opportunity to receive a regular fixed income, which you will get instead of your pension. This will give you a sense of security through knowing exactly how much you will have to spend and live on; you will then be in a better position to budget. Due to this, having an annuity is like having an annual fixed wage; which means that will have the consistency and security that you are most used to.
If you take the advice listed herein, you should be able to decide what you should be doing with your money and whether an annuity is the right option for you.
by: Jabbar Karlee
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