Annuity Rates Comparison
Making an annuity rates comparison is vital is order to ensure you get the best annuity deal possible. Rates vary from provider to provider so you can only be sure you’re getting the best deal by shopping around. Annuities cannot be switched or altered, so it pays to ensure you make the right decision first time. If you look on the FSA website you will be able to see snapshot annuity rates from the leading annuity providers in the UK. It is important to compare the right annuities with each other, for example enhanced or impaired life annuities pay a higher amount than level annuities, so make sure you compare like with like.
Using Annuity Tables
You may want to use an annuity table to make a comparison between each provider, but these should be treated only as an illustrative guide as to what kind of income level you could receive. In fact the best way to make an annuity rates comparison is to speak to an annuity specialist who can advise you on which deal suits your own set of circumstances. If you are eligible for an enhanced annuity then you are likely to be offered a higher rate as a consequence. Remember though that not all annuity companies share their rate information publicly, so you need to speak to an annuity broker or IFA in order to compare the whole market. Although you can compare level annuity rates, smokers rates, and enhanced rates you do need to speak to an annuity specialist because the level of enhancement you are offered, for example, depends on your own state of health.