A guaranteed income for life could be your best choice
Even if you’ve always kept on top of your finances – topping up your pension, saving away extra income, not overspending – life doesn’t always go according to plan.
Budgeting can be more difficult than expected, or you can develop health problems that mean you need extra financial assistance. Our annuity may be the best option for you if you find yourself in this situation.
Here’s an example, based on the experience of our customers, to give you an idea of how our annuity can help.
Meet Anna, a small business owner, age 58
Anna’s business, a haberdashery, has been in the family since 1924 – so, understandably, it’s close to her heart. Rarely missing a day’s work since she started at age 25, she’s one of the local community’s well-known friendly faces.
She took out a personal pension with us back in the ‘80s and has been paying into it ever since – even sticking to her plan of steadily increasing contributions as she got older.
She’d planned to continue working in her shop a bit longer. But recently, she’s developed some health problems that require regular visits to the hospital.
Now she feels it’s best to let someone else take over so she can take it easy for the sake of her health.
She decides to browse through our website and takes her time checking all the pension options available. In particular, she’s looking for more security from her pension money.
After some careful thinking and considering rates from different providers, Anna decides to put the majority of her pension into our guaranteed income for life - also known as annuity.
She’s now paid a regular income every month, and she knows exactly how much she’s going to get every month for the rest of her life.
What’s more, we can offer her a better rate due to her medical condition. This comes in handy to pay for all those extra healthcare costs.
The annuity also allows her to take out some tax-free cash to clear the remainder of her mortgage and pay off a small business loan. There was even a little extra left over for a short holiday in the sun while she recovers from her latest round of medical treatment.
Anna’s situation may have changed unexpectedly, but she now has extra security and comfort in retirement thanks to her annuity.