Lifetime annuity vs fixed term annuity.

Storeman232

Hi, my fixed term annuity ends just before my 77th birthday.
Then, using the maturity value I was planning to buy either a 5 or 10 year fixed term annuity.
I was wondering though, due to my age, general life expectancy, and a couple of health issues, could purchasing a lifetime annuity actually pay out a monthly income more than a fixed term annuity?
All advice very much appreciated.

Lowtrawler

You will only know for sure by requesting quotes.

As your current fixed term annuity clearly has a terminal value, are you planning to do this again?

If so, you may find a lifetime annuity with no terminal value will give you much more income. Time to request a few quotes I think.

squirrelpie

As Lowtrawler says, just get some quotes for the various types of annuity and see which suits you best.