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| With the pension amounts shrinking each year, it is important you make well informed decisions after retirement to stretch the pension pot as far as possible. An Annuity is a simple, concept and converts the pension pot into a regular income stream which funds you after the retirement for rest of life. If you feel confused, just remember three basic annuity types, which are, variable annuity, fixed annuity and equity index, others are just the options or features of these three types. Most persons stop there, but that can be a 'big mistake'. There are chances that your company will not provide most basic annuity type, which means you have to go around for better quotes. As one gets near to his retirement, he will get quotes from different pension firms that tell him how much money they are willing to give him based on value of his pension. In fixed annuity, you make payments to an insurance firm which returns it later on with preset interest. Helpful Instructions on Annuity Suitability There are apparently several annuity choices, such as single premium, equity indexed, flexible premium, variable deferred premium and more. However, before that you need to know how to decide on annuity suitability. |