Annuity quotes - don't understand

squirrelpie

I've just got some annuity quotes from the moneyhelper.org.uk site and I don't understand the relative rates between them.

I did a couple with my wife as joint life and got a better quote for 50% payment after first death than for 100% as I would expect. Then I did one with just my own life to see how much it would improve, but the result was worse than the 50% joint rate!

I can't understand that at all. How could that be the case with all other factors remaining the same?

Marcon

squirrelpie said:

I've just got some annuity quotes from the moneyhelper.org.uk site and I don't understand the relative rates between them.

I did a couple with my wife as joint life and got a better quote for 50% payment after first death than for 100% as I would expect. Then I did one with just my own life to see how much it would improve, but the result was worse than the 50% joint rate!

I can't understand that at all. How could that be the case with all other factors remaining the same?

Assuming you got all the quotes on the same day it sounds as if all other factors might not have remained the same - could you inadvertently have changed one of them?

Sarahspangles

It sounds like they think your life expectancy is longer if you’re single. Do they know something you don’t?

squirrelpie

Well I originally did the two joint quotations a few days ago, but they have updated today (slightly better ) so I think they're comparable. I don't think I changed anything apart from the single life vs joint life question, and it did ask me if I was sure I wanted a single lif quote even though I'm married.

The top three joint were from L&G, Just & SW and both L&G and Just have quoted worse for single life, whilst SW has quoted better, but not better enough! Canada Life is the only other of six that improved their quote for single life. It all seems very bizarre to me

FIREDreamer

Sarahspangles said:

It sounds like they think your life expectancy is longer if you’re single. Do they know something you don’t?

Must have met the wife! 😂😂😂😂😂

DRS1

Are there health factors affecting your wife which don't affect you?

Have you tried getting quotes from another source (eg HL) to see if the same thing happens there?

DullGreyGuy

What are your ages and genders? 

Are you including anything else like a 10 year guarantee?

squirrelpie

I am male and my wife is female. I'm not including any guarantees or anything. I selected RPI inflation protection. My wife has several health conditions, but I don't see why taking her off the quote would make the quote better. Why are our ages relevant to my question?

I haven't yet got quotes from an alternative source. I was hoping to understand the reason before I did.

dunstonh

Why are our ages relevant to my question?

Age is one of the most important pricing points.  And with 100% spouse, they will look at the longest life expectancy from both of you vs single life where it is just your life expectancy.

squirrelpie

dunstonh said:

Why are our ages relevant to my question?

Age is one of the most important pricing points.  And with 100% spouse, they will look at the longest life expectancy from both of you vs single life where it is just your life expectancy.

Yes, I understand all that. But how can a joint life quote be better than a single life quote for one of the couple?

FIREDreamer

squirrelpie said:

dunstonh said:

Why are our ages relevant to my question?

Age is one of the most important pricing points.  And with 100% spouse, they will look at the longest life expectancy from both of you vs single life where it is just your life expectancy.

Yes, I understand all that. But how can a joint life quote be better than a single life quote for one of the couple?

Can you provide screenshots, redacting any personal info?