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Annuities FAQ

Annuity FAQ

This page is here to answer any annuity related questions you may have to help you in getting the most out of your annuity policy!

Q: What is an Annuity?

A: An annuity is a regular payment in exchange for a lump some of money. They are purchasable during the ages of fifty five and seventy five and many cash in their pension to provide an increased regular fund. The annuity provider will then make payments until the unfortunate passing of the policy holder, sometimes even making decreased payments to a dependant of the deceased for a period of time.

Q: What is a Fixed Annuity?

A: A fixed annuity gives you a fixed payment on your retirement pension. These payments are likely to be smaller then a variable annuity but you are ensured payments regardless of the stock market.

Q: What is Impaired Life Annuity?

A: Should the policy holder have various health problems they can apply for impaired life annuity, as life expectancy is reduces payments differ.

Q: What is a Variable Annuity?

A: The variable annuity allows the policy holder the choice of where their money is invested. With this option the value of the pension depends on the performance of the investments. This option can be complicated and we would recommend you seek professional advice should you wish to go down this route.

 

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