Adviser Guides
Guide to annuities - part 2
As people live for longer, buying the best annuity can be crucial to your client’s future health and happiness.
This guide explains how advisers can secure the annual income their clients will need to live on.
Answers supplied by Mike Morrison, head of pensions development at Axa Wealth, Katherine Oxenham, business development director of Annuity Direct, Andrew Tully, pensions technical manager for MGM Advantage, and Nigel Barlow, director of technical product development marketing of Partnership.
IN THIS GUIDE
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Q: What should I do if annuity rates have fallen?
Most annuity providers guaranteed the rate offered in a quotation for at least 14 days, according to Katherine Oxenham, business development...
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Q: What happens if I delay purchasing an annuity?
Delaying purchase of an annuity could mean that rates might or might not improve.
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Q: How do you purchase an annuity?
The client needs to complete an application form for their new annuity provider and a transfer/discharge form for their current pension provider.
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Q: What if my client regrets purchasing an annuity?
Purchase is usually a ‘once and for all’ decision, warned Mike Morrison, head of pensions development at Axa Wealth.
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Q: What are the pros and cons of the alternatives?
Annuities offer absolute security but fixed death benefits and usually a fixed level of income.
