Interesting, this. Standard annuity rates are the lowest annuity rates you can get. You can’t get lower than standard annuity rates, you can only get more. Nobody seems to point that out, but it’s a fact. Standard annuity rates apply to you if you’re fit and healthy and non-smoking. You can get higher annuity rates, much higher, if you suffer from ill health or if you’re a regular smoker, but not lower. So I say, take standard annuity rates as the starting point for your annuity, and build your annuity from there.
What exactly do I mean by this? Well, taking an annuity quote from our annuity calculator as the starting point. It will provide you with a quote based on standard annuity rates. There’s your benchmark. Your subsequent answers to certain questions about your state of health and your lifestyle will determine whether you get higher annuity rates than those quoted. In addition, there are various annuity options to consider, and I accept that if you choose an annuity with an increasing income you’ll get a lower starting income, but standard annuity rates are still the lowest annuity rates you can get.
