Add Up Articles Directory | Free Articles | New Articles Daily | A couple of reasons why it is good to set up an annuity account for your self

Due to this, it is definitely a good thing to take some time to mull over the reasons to spend, save or invest your money.

To help you with this, here are some of the advantages to taking out an annuity and how it can help you to get in control of your finances, compiled with help from www.investmentsense.co.uk staff.

One of the great benefits of a retirement annuity is that it allows you the opportunity to receive a regular fixed income, which you will be given in place of your usual pension This can give you the peace of mind of knowing exactly how much you will have to spend and live on; you will then be in a much better situation to budget. Thanks to this, having an annuity is similar to having a fixed wage; which means that will have the consistency and security that you are most used to.

If you should decide to take out an annuity then even if you die before you reach the appropriate age your loved ones can still benefit thanks to annuity protection. With this option, a spouse or family member can receive a lump sum upon your death. Although, this would be subject to a tax charge; it does however mean that your cash will not be lost and that your family and loved ones will receive some form of financial support. This feature of an annuity means that it can help your family when they need to afford your funeral and take a lot of unnecessary stress out of the situation.

If you live a unique style of life or are in very poor health then you may be interested in taking up a more unique insurance policy. This type of annuity is appropriate if lifestyle factors, such as drinking or smoking, suggests that you may live less than other people do who have different lifestyles. Some of the other conditions that may make you eligible for this type of policy include angina amongst other health problems you may experience. Therefore, if you worry that you may not reach the age of 75 years old then you may be pleased to know that you can still prosper from an annuity.

It is hassle-free to set up an annuity as your personal pension provider will usually offer you an annuity when you are coming close to the age retirement. Therefore, if you are eager for an annuity then you can take your time and simply wait for someone to call you. It is important to realise that at present you are not required to have an annuity until the age of 75 but this age limit could well change now. Consequently, it could well be worth looking for the best annuity rate available or contacting an expert, like those which are waiting for you at www.investmentsense.co.uk.

An annuity is available with a range of choices, making them ideal for a range of different personal circumstances. For instance, you might want to have a single-life or joint-life annuity. A single-life annuity pays you an income for your life and ceases on your death; however, a joint-life annuity will continue paying money to your spouse after your death. There is even a choice available on how much is paid out; as you might want half or even two thirds of the original cash income to be given to your spouse. You can even request inflation proof annuity.

If you take on board the guidelines included herein you should be better equipped to decide where you should put your hard-earned cash and whether an annuity will be the best solution for your financial situation.