Trial an annuity calculator and bag the most lucrative income in retirement
A pleasant retirement is something we all want to arrange as soon as we terminate our working life. One pivotal facet which impacts your retirement is the level of income you can draw from an annuity.
To many in the retirement industry this can seem quite shocking as acquiring the highest annuity can result in income increases as high as 40% or more. As you can observe, this is a significant amount of extra cash.
The immediate question which puzzles many who need an annuity is.... There are several places you can go to find the best deal on an annuity including... the internet, your local library or an IFA. Each of these has there pros and cons, so be in no doubt you choose the most suited option for your situation.
You could think this is a great deal of activity for you to undertake, but getting the right advice is crucial when looking for investment-linked annuities. If you don't compare UK annuity firms you might miss out on a much higher retirement income. Thousands of people who buy annuities without making a comparison subsequently think to themselves ' wish I had chosen to compare annuity companies.
A section of these annuity customers will have also been permitted to apply for an enhanced pension 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 with serious medical conditions. These can include a range of problems including.... stoke, organ replacement and Multiple Sclerosis.
You might be saying to yourself.... 'I have yet to endure a medical condition like this'. Even if you haven't been this ill you could might still be eligible for an annuity with enhancements. It is not unusual to be given enhanced rates if you can prove you smoke cigarettes, cigars or a pipe on a regular basis. The best way to proceed would be to always inform your annuity broker of anything which could impact your life expectancy.
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 is also worth mentioning that increased rates can be offered if the applicant has been the victim of any of the following ailments asthma, diabetes, or stoke. This list demonstrates that there are more than one way in which you could be in line for a better rate.
So if you don't want to be one of those people who skip the chance of getting a higher annuity payout, get shopping for an annuity today - it could be the most important decision you make.
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If you are thinking of buying an annuity, then it may be useful to use an initial idea of the kind of income you might receive.