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This is something we don't think about until we reach retirement age as we are so busy getting on with our lives. There are many reasons why we don't think about annuities in working life such as.... lack of knowledge, lack of comprehension and laziness.

Company workers from this industry find this remarkable as acquiring the highest annuity can result in income increases as high as forty percent or more. As you can imagine, this is a substantial amount of extra money.

The immediate question which puzzles many who need an annuity is.... where does ones go to nail down the best annuity rates? There are a wealth of places to start your annuity search such as... the company you built the fund with, financial advisers or an annuity broker. Each of these option has there own benefits and drawbacks, so be in no doubt you choose the most suited option for your situation.

You might seem a bit bewildered with all this information, but procuring the correct help is vital when looking for pension annuities. If you don't compare UK annuity firms you might miss out on a higher standard of living when retired. Millions of people who get an annuity without checking other providers think afterwards if only I had decided to compare annuity providers.

Some of these annuitants could have even been eligible for an annuity with enhancements, which could mean they are missing out on a potentially higher income. It must be noted however that the 40% increase is only given to those who have serious medical problems. Listed here are just a selection of conditions which can equal better rates... Parkinson's disease, high blood pressure and Bronchitis.

You could be of the mind that.... 'I don't suffer from any of these conditions'. Even if you've never had to suffer in this way you might just still be offered an enhanced annuity because of your lifestyle choices. It is commonplace to be presented with higher rates if you are prone to smoke heavily or drink alcohol on a regular basis. The wise thing to learn here is that you should tell your annuity consultant of any ailment or lifestyle choice which may effect how long you live for.

Annuity rates are rate of return on annuities. It represents the regular payment made by insurance company to the annuitants under the terms of an agreement. Every annuitant desires to receive high rate of return, but the annuity rates vary on the basis of various types of annuities. The rates annuitants receive are determined by two factors, gilt yields and life expectancy. Sometimes the annuity rates depend on the market conditions and the monetary policy of the Government. Fixed deferred annuities provide assured rate of return over the life of insurance contract and in case of variable annuities, rate of return is high but annuitant are not guaranteed for a regular return.

The rationale behind why companies pay higher rates to those who are ill is that they assume you will live for less time than the average annuitant. It is also worth mentioning that better annuity rates can be paid if the elderly person has had some or all of the following conditions bronchitis, asbestosis or myotonic dystrophy. As you can see it is plainly obvious there are several medical issues which can lead to a better pension.

So to avoid being one of those retirees who miss the opportunity of earning a better income from retirement, compare pension annuities today - it might just be the most important decision you make.