Annuity Rates
How much retirement income you’ll receive depends on your circumstances. You could be eligible for up to 40% more income if you have certain medical or lifestyle conditions.
Retirement income
Annuity rates can vary greatly depending on your circumstances and your choice of annuity provider. The difference in retirement income can be significant. We’ll compare annuity rates for you from all companies to find you the best deal.
Not only can you get more income if you have certain medical or lifestyle conditions, the amount of retirement income you could receive if you’re in good health can vary substantially between different annuity providers. Follow these links to find out more:
- If you’re in good health, discover how much retirement income you can get with a conventional annuity.
- If you’ve any medical or lifestyle conditions, see how much income you can get with an enhanced annuity.
Best annuity rates
How annuity rates are calculated
Annuity rates are based on a number of factors, including your state of health, your gender, your marital status, your lifestyle, and where you live, and getting the best annuity rates is important. Annuity rates do vary and there’s a big difference in the annuity rates you could be offered by different companies.
To help protect yourself against inflation you can choose to have an annuity with an increasing income. See annuities and inflation for details.
Higher annuity rate
You don’t have to be seriously ill to benefit from a higher annuity rate. There are more than 1,500 lifestyle and medical conditions that can be taken into consideration. Even if you’re considered to be in good health, you could still qualify for a higher joint retirement income if your spouse or partner smokes or has health problems.
The amount of retirement income you’ll get depends on your life expectancy. If you have any health or lifestyle issues it’s likely you’ll have a shorter life expectancy than a healthy individual. If this is the case, you’ll be offered a higher annuity rate, because any income payable to you will be for a shorter period of time in the eyes of the annuity provider.
Best annuity quote
Make sure you shop around for the best annuity quote as you approach your retirement. Use your open market option, and compare what’s available from different companies – annuity rates do vary significantly and they also depend on your health and your lifestyle. With the best annuity quote you could be significantly better off in your retirement, possibly to the tune of hundreds or thousands of pounds each year of your retirement.
