Prudential Annuities

Prudential is one of the leading providers of annuities in the UK. A household name in the insurance industry, they provide a number of options when it comes to retirement income The company dates back to 1840 and can boast an impressive seven million customers . With that in mind you maybe considering Prudential as an annuity provider, or perhaps you have been saving your pension with Prudential. Below we have considered the main Prudential annuity options.

Standard Annuity – Like nearly all leading providers, Prudential offer a standard annuity, which is also known as a ‘level’ or conventional annuity. These are the most popular kind of annuity in the UK as they pay the same amount each year until death.

Income Choice Annuity – This is a type of with-profits annuity which gives you the chance of increasing your retirement income in the future, should the with-profits fund your money is invested in perform well. However, should the fund perform badly then your income could go down.

Enhanced Annuities – Prudential also provide enhanced annuities to those retirees who have an illness or lifestyle choice that will impact on their life expectancy. These annuities pay a higher rate than standard annuities, up to 40% or more. If you think you might be eligible then you should tell your current pension provider.

Of course Prudential is just one annuity provider amongst many. They may not necessarily have the best annuity deal for you so ensure that you compare annuity providers.