Get your annuity in the right shape
Get your annuity in the right shape
Here at Chartwell we agree that securing the most competitive annuity income you can is important but we believe that it is more important to get the appropriate shape of the annuity right.
Statistics from an Association of British Insurers survey in 2007 confirmed that:
• 93% of annuities were on a conventional basis and did not take into account other issues such as existing medical information and investment linked contracts.
• 87% of annuities were set up on a level income therefore giving no protection against the effects of inflation.
• 64% of contracts were set up on a single Life basis making no provision for a surviving spouse.
• 29% of annuities had no guarantee period which would safeguard the income for an agreed period of time, no matter what.
These are scary statistics as it is estimated that up to 40% of those retiring at present could obtain a higher income due to existing medical information, however, only 5% of annuities were set up on this basis.
This is why the Chartwell Annuity Centre is providing a free online annuity report that will provide individuals the information they require in one place. This report provides comparative rates for up to 60 different alternatives together with additional information regarding the various alternative benefits. Chartwell will then provide the facility of reviewing the annuity market place to find the most competitive rates available.
Sean McCabe, Annuity Manager at Chartwell says ‘What is the point of obtaining a good rate on the wrong type of annuity? It is vital that all options are considered to ensure that individuals have all the information they need to make an informed choice. This bespoke report will allow potential annuitants the opportunity to consider all of their conventional annuity options. Shaping the annuity is the first of two stages in the annuity process; once the shape has been determined it is at this stage where we would undertake a review of the annuity market to secure the best income possible.’
To request a free online report please visit http://www.theannuitycentre.co.uk/ or call 01225 823950.
