Tag Archives: Compare Annuity Rates

Free Annuity Specialists Who Will Help Compare Annuity Rates

Annuity specialists and Independent Financial Advisors (IFA) can offer impartial and unbiased advice about the different annuities available on the open market. They can help you compare Annuity rates, compare different products, and understand the different types of annuities and choose a product that can best suit your individual circumstances and needs.

Professional independent financial advisors offer their services based on two types of payment – either an upfront fee, or a fee in the form of a commission. Upfront fee rates can range from £75 to £250 per hour depending on the location, type of advice etc. While an upfront fee is paid as a single upfront payment for the consultation and advice, a commission fee is paid only when you actually decide to buy an annuity through the advisor.

This means that you can receive free independent and impartial advice not just to compare annuity rates, but potentially until you need it, and until you have made a decision. The IFA is paid only when you buy a product through them. Irrespective of whether you agree to an upfront fee or a commission fee with your advisor, an independent financial advisor is qualified to offer completely unbiased and impartial advice and help you choose the most suitable product.

While an independent financial adviser can certainly help you compare annuity rates and find the best deal, there is yet another good reason to consult a financial adviser while choosing an annuity. Professional financial advisers often have access to exclusive deals and offers directly from the providers. These deals may not be available on the open market to customers, unless you buy the product through an adviser.

It is always a good idea to compare different advisers and choose one with the most experience and professional credibility in the field. Personal recommendations and references always help. But do not be afraid to shop around online, or locally too. Always make sure the independent financial adviser you choose is truly independent and not tied down to a particular company or companies.

If you are not sure if annuities are the right option for you and need independent advice about the best solutions for your circumstances, look for advisers with a broad field of expertise, rather than just an annuities expert. Unlike a specialist within a narrow area, a financial adviser with knowledge of the entire sector could help you explore more options and make the best decision.

Whether you need to compare annuity rates or simply need some friendly yet professional advice about your finances – an independent financial advisor could help you.

How Best to Compare Annuity Rates?

Once you reach the age of 55 you will begin to think about how best to make your retirement savings last for as long as you will need them. This is a difficult proposition, and there are many options that are available to you. About six months before you retire you will be sent an information package by your current insurance company. In this package will be information about the annuities that they have to offer. However, it is in your best interests to compare annuity rates.

If you are even considering taking out an annuity then the worst thing you can do is take the first annuity offer that you get; you absolutely have to compare annuity rates. The first reason is that once you have bought an annuity you cannot get your money back, and the second reason is that if you are going to try to take care of yourself financially for as long as possible you will have to find the best annuity rate to get you through the rest of your life. This is why you have to compare annuity rates.

But what is the best way to compare annuity rates? A good place to start is with annuity calculators. Most annuity providers have these on their websites and with a bit of personal information they can give you an idea of the kind of annuity rate that you can expect from them. These quotes are not guarantees, only a guide. So the next step to compare the best annuity rates is to get an actual quote from the annuity provider. There is also another way to compare annuity rates and that is to go to independent annuity observers like the FSA and have a look at their rates.

By deciding to compare annuity rates in this way you will have an idea of all the annuity rates that are available and what the various annuity providers have on offer. Each annuity provider will have something slightly different to offer and slightly different annuity rates and of course you will want and need the best annuity rate, and annuity package that you can find. Shopping around and making the effort to compare annuity rates is not a waste of time, it is preparing for your future. So take the time and go through the various steps until you find an annuity rate that works best for you.