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Best place to get Annuity quotations
XzavierWalnut
Posts: 175 Forumite
I have got some quotations from Money Helper, is there any where else better or are they all the same?
Also, any pitfalls to look out for?
Also, any pitfalls to look out for?
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I've been looking in to this and noticed that I couldn't get annuity quotes from money helper that allowed a tax free lump sum so made it hard to compare with quotes from elsewhere. I got some interesting responses to my post from yesterday.
sense check on annuity quotes — MoneySavingExpert Forum
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moneybuilder uses generic rates and is fine for clean health but unreliable for enhanced annuities. Its good for a guide but if you are actually going to proceed with an annuity, then for funds above around £30k+ then an IFA is likely to give the best terms.XzavierWalnut said:I have got some quotations from Money Helper, is there any where else better or are they all the same?
Also, any pitfalls to look out for?
I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.1 -
To clarify, I am looking at the most basic annuity, just for myself, no index linked etc. and no guarantees.
On Money Helper best quote was circa £5.5k per annum with a £85k pot.0 -
You can get quotes from Age Partnership. They ask for your details but if you don’t want to be contacted then just be a little creative.1
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Shop Around...
My small DC pension is with Aviva
I had Aviva give me a quote (with a few medical conditions) they offered £5600
I then used the Hargraves Lansdown search They found (with exactly same conditions) £6100 with L&G
I the went direct to L&G (same conditions) They offered £6400
It really does pay to take the time to search2 -
moneyhelper are suggesting that Standard Life are doing the best rates today, at least for me and RPI/LPI pensions0
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Also HL tooJohnnyy_Boy said:You can get quotes from Age Partnership. They ask for your details but if you don’t want to be contacted then just be a little creative.0 -
I saw 3 different IFAs last week, none of them could beat easy Internet tools.
It was for a simple 200K level annuity, no health issues, just simple simple one.
They were 9% 7% & 5% below easy Internet engines.
Many people say IFAs will always beat easy Internet searches, but I haven't found this to be true.0
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