Best Annuity Providers

Anyone shopping for an annuity will want to know who the best annuity providers are. Well the simple answer is whichever annuity provider has the best annuity offer to suit your particular circumstances. Not all annuity providers offer the same products and indeed the same rates, which is why is it essential to shop around between providers for the best deal. Some providers do not offer a ‘whole of market’ comparison which means they will only offer you their own rates. This is unlikely to the best annuity deal, so comparing the whole market is vital in order to maximise your retirement income.

There are dozens of annuity products on the market, and for those who are approaching retirement, it can be difficult to know which product is right for you. One of the most lucrative products in terms of retirement income are enhanced annuities. These are offered to those retirees who are judged to have a lower than average life expectancy. These pay up to 40% more in annual income compared to conventional annuities, but can only be obtained by using the Open Market Option.  Once an annuity has been purchased it cannot be switched so making the right decision first time is absolutely essential.

One way to get an idea of who the best annuity providers are at any one time is to use an annuity rates table, although these should only be used as an illustrative guide. These give snapshot rates from the leading providers, usually showing male and female rates and a range of different retirement ages. These are not comprehensive annuity quotes and should not be treated as necessarily the best deal on the market. In truth, finding the best annuity providers can only be done by seeking professional advice or speaking to an annuity specialist.