Brokers Commission Question

n58

RogerPensionGuy 

I mostly found quotes(no enhancements) gross to me were 99.9% the same as Moneyhelper, but one offering was 2% more, maybe this outfit has a deal with an insurance company.

The 2% greater offering, was this direct, through a broker or an IFA.

For me an annuity gives piece of mind and security, I don't want to be looking at my investment daily, worrying in case it goes down.

Have you decided whether to accept the 2% higher quote or are you still searching?

RogerPensionGuy

n58 said:

RogerPensionGuy 

I mostly found quotes(no enhancements) gross to me were 99.9% the same as Moneyhelper, but one offering was 2% more, maybe this outfit has a deal with an insurance company.

The 2% greater offering, was this direct, through a broker or an IFA.

For me an annuity gives piece of mind and security, I don't want to be looking at my investment daily, worrying in case it goes down.

Have you decided whether to accept the 2% higher quote or are you still searching?

The high quote was via a broker and broker just requoted at 1215 today and it dropped that 2% as rates change all the time apparently. 

So now I have a few quotes very very similar in initial % payouts RPI linked. 

Unfortunately best two quotes don't have a zero collar floor, however quote in 3rd position does. 

I'm trying to understand how much value having a zero floor actuality brings me. 

I'm going for RPI for all the obvious reasons and accepting a lower initial % gross output than picking an X % index.

My dilemma now is trying to workout how valuable is a zero collar floor worth to me and accepting a lower initial % output to pick this product, maybe 0.5% 1% 1.5% or 2% reduction?

Any views comments most welcome from posters good on numbers, risks & rewards please?

Cheers Roger(with a headache) 

dunstonh

The high quote was via a broker and broker just requoted at 1215 today and it dropped that 2% as rates change all the time apparently. 

As I mentioned before, some providers are real time. The rest of the abilty to change daily.

 Unfortunately best two quotes don't have a zero collar floor, however quote in 3rd position does. 

Having a nil floor costs more, hence lower annuity rate.

n58

RogerPensionGuy said:

n58 said:

RogerPensionGuy 

I mostly found quotes(no enhancements) gross to me were 99.9% the same as Moneyhelper, but one offering was 2% more, maybe this outfit has a deal with an insurance company.

The 2% greater offering, was this direct, through a broker or an IFA.

For me an annuity gives piece of mind and security, I don't want to be looking at my investment daily, worrying in case it goes down.

Have you decided whether to accept the 2% higher quote or are you still searching?

The high quote was via a broker and broker just requoted at 1215 today and it dropped that 2% as rates change all the time apparently. 

So now I have a few quotes very very similar in initial % payouts RPI linked. 

Unfortunately best two quotes don't have a zero collar floor, however quote in 3rd position does. 

I'm trying to understand how much value having a zero floor actuality brings me. 

I'm going for RPI for all the obvious reasons and accepting a lower initial % gross output than picking an X % index.

My dilemma now is trying to workout how valuable is a zero collar floor worth to me and accepting a lower initial % output to pick this product, maybe 0.5% 1% 1.5% or 2% reduction?

Any views comments most welcome from posters good on numbers, risks & rewards please?

Cheers Roger(with a headache) 

Don't quote me, but according to the broker I am in contact with, only twice since the 1930 that the inflation dropped below zero, the L&G quote I had it's factored in as standard.

You could ask your broker to check whether he can get it included with the provider that had the highest quote.

I have just sent off the signed Documents back to the broker I am using, I don't want to delay any longer, I have ignored their commission and concentrated only on the options and the provided quotes, every month I will delay equates to a month less payment and the risk of the annuity rate dropping, of course it could go higher as well.

so the options on the annuity that I have taken are:

Enhanced
Joint
50% to spouse
RPI
Value protected