Annuity Quotes Guide

Annuity quotes, like annuity rates, can vary greatly between different providers, and it is important that you know what you are looking for and provide accurate information about yourself. 

Your guide to annuity quotes

Know what to ask for, or seek advice

This page is intended as a guide to help you choose the most appropriate annuity quotes for your individual circumstances. When you know a bit more about what you want, you can complete your details on the Free Quote page, or call us free.

Getting the right annuity quotes

Various factors

Accurate annuity quotes are based on many factors: your age, gender, health, lifestyle, marital status, size of pension fund, the annuity options you select, and more. As annuity rates are becoming more bespoke, an adviser can help guide you through this process, knowing which questions to ask. See bespoke annuity rates.

Enhanced annuity rates

Enhanced annuity rates are individually underwritten, as they depend on various factors as above, plus details of the type and severity of any medical condition or conditions, and any medication you are on. Liase with an adviser to find the best annuity rates available for your particular set of circumstances.

Know the type of annuity and the right options

Selecting the right annuity quotes will give you a true picture of your retirement income possibilities. To do this properly research the different annuity types available, and the options you might require. For example, don’t get a conventional annuity quote if you have ill health or if you’re a smoker and can benefit from an enhanced annuity, and if you’re married don’t get an annuity quote on a single life basis without considering a joint life annuity and the benefits it can bring.

The types of annuity rates to ask for

If you’re a non-smoker and considered fit and healthy, you need standard annuity rates. 

If you’re fit and healthy, but a regular smoker, you require smoker annuity rates.

If you suffer from ill health, and whether you smoke or not, you require impaired life annuity or enhanced annuity rates.

Postcode annuities

We now also have postcode annuities which are rated on where you live, with those in less wealthy areas (usually) being offered higher annuity rates, and these can apply to the above.

The annuity quote from your existing pension provider

You can probably do a lot better

The annuity quotes you get from us are likely to be higher than the quote you have from your existing pension provider, possibly up to 30% higher, or even more. It is also likely that they will not offer you the right options.

Annuities that increase in payment

An escalating income

As an alternative to an annuity quote showing a fixed income throughout, you can choose one showing increases in payment each year (an escalating income), such as by 3%, 5%, or in line with the Retail Prices Index (RPI), see inflation proof annuity. Whilst this might help offset the effects of inflation, it will affect the initial incomes quoted.

For example, if you opt for the 3% increase the starting income shown in your quote would be around 25-30% lower than the figures in a level income quote, and, if you opt for the RPI increase, the starting income shown would be around 35-40% lower. 

Additional benefits

To assist if you suffer from ill health

If you suffer from ill health, we can assist you with a dedicated telephone underwriting service, immediate accurate (i.e. not just indicative) annuity quotes, and also a 45 day quote guarantee period for enhanced annuity and impaired life annuity quotes. 

Medical conditions

Disclose everything

If you do suffer from any medical conditions please give detailed information about yourself. This will ensure you get the best annuity quotes.

Our telephone service

For ease and speed of service

If you wish, you can request your annuity quotes over the telephone. It’s quick, convenient, personal, and free. It also saves you having to put your details online.