Immediate Life Annuity

The options you choose when you take out your Immediate Life Annuity will affect the amount of income you'll get. Generally, the more options you add, the lower your starting income will be. You can get a personal illustration which shows the difference the various options would make to your income.

• Longest Life Benefit. If your plan covers two people you can choose for payments to reduce on either the first death or the death of the named person. This reduction can be up to 50%.
• Capital Protection. You can choose to take smaller payments to protect your capital so that when you die, if the total payments (before tax) we've paid you are less than your single contribution, we'll pay the difference to your estate.
• Escalating income. Your regular income will start off lower, but will increase by a fixed percentage each year for the rest of your life.
• Guaranteed period. You can choose to add a guarantee for 5 or 10 years. If you die during this period, your income will continue to be paid to your estate until the end of the guaranteed period.

Payment options

Your income can be paid monthly, quarterly, half-yearly or yearly, either:

• In advance. This means that payment of your income will be from the start date.
• Or in arrears. This means that payment will be one month, quarter, half-year or year after the start date, depending on your chosen payment frequency.

How to apply

If you think that our Immediate Life Annuity is right for you, find out more about how to apply. If you need help deciding which annuity or options are most suitable for you, you should talk to a financial adviser. If you don't already have an adviser, you can find one in your area at www.unbiased.co.uk

Want more help?

Our team of advisers will be happy to give you a personal illustration with different options so that you can see the difference they make to your income. We can only advise on our own products. If you'd like information on other providers' products, you should speak to a financial adviser.

Talk to one of our advisers on 0800 068 3038*

*Lines are open Monday to Friday 8.00am to 9.00pm, Saturday 9.00am to 5.00pm. Calls may be recorded and/or monitored

WC01036 01/2012