Annuities: it's now or never

Article Abstract:

United Kingdom annuities have dropped to their lowest levels for 30 years in 1998 and could fall further. This affects the pension incomes of investors purchasing annuities. Government security yields have dropped which has affected annuity rates. Some investors may delay buying an annuity, hoping that rates will rise, but this may be an unwise decision since rates could drop. With-profits annuities involves some risk and may offer a higher pension than a conventional product, and income drawdown products can be used by investors with large funds.

United Kingdom, Interest rates

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Open annuities allow inheritance

Article Abstract:

The UK insurance sector is responding to consumer dissatisfaction with traditional annuities by launching the Open Annuity in Aug 2001. Investors' money is held in their own 'pots' within the Open Annuity, and is invested to produce income. After death, the money goes to the investor's estate.

Innovations, Product introduction

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A matter of life and death

Article Abstract:

Enhanced or impaired life annuities are now offered by several specialist firms, allowing investors to shop around using the Open Market Option. Enhancements can benefit groups including smokers, the overweight, those with high blood pressure and those who have worked in hazardous jobs.

Product information, Life insurance industry

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