Conventional Annuities
Conventional annuities will provide you with a guaranteed income for life, which is not subject to investment risk or mortality risk. This means that whatever happens to the stock markets, house prices or any other investments, your income will continue to be paid out for the rest of your life.
Once bought, these annuities pay a set level of income or income linked to a prescribed rate or index throughout your life. This security and the fixed nature of conventional annuities are provided at the expense of flexibility. Once bought, they cannot be changed, transferred or cashed-in. So, it makes sense to take time considering your situation and choosing your options carefully. Our Consultants can help you, or can ‘model’ different options, and obtain instant live annuity quotes on our online annuity supermarket.
Advantages of Conventional Annuities
- It provides a known and guaranteed income for the rest of your life
- You can choose for your income (before tax) to increase at a fixed rate and help offset the impact of inflation
- You also have the option for your spouse/dependents to receive the income after your death
Disadvantages of Conventional Annuities
- Once purchased, it cannot be changed, transferred or cashed in, so it is important to do your research to get the best pension income
Read our Conventional Annuities Guide >