What is an Annuity?
- Securing a pension annuity policy is like ensuring a steady income for your retirement.
- An annuity is an insurance contract that protects you from outliving your retirement funds.
- You purchase an annuity with a lump sum, typically from your pension pot. In return, the annuity provides you with income for life, paid in monthly or yearly installments.
- The amount you receive annually depends on the annuity provider's or financial adviser's assessment of your risk factors, such as age, health, and lifestyle.
- This arrangement works well if your adviser has ensured the annuity was not mis-sold and is suitable for your needs.
How do I know if I have been mis-sold an annuity?
Mis-sold an Annuity? Get assistance and be possibly compensated!
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