Annuity

Why choose an annuity?

One of the main reasons for considering an annuity is the security it offers as the income is guaranteed for as long as you live. Think of it like an insurance policy. If you continue to live for a long time, an annuity will continue to pay the income you need to pay your care fees for as long as you live. However, if you died not long after taking out the annuity then it may have been costly. Therefore, like an insurance policy, the key benefit is peace of mind.

How does an annuity work?

You use your capital to purchase an annuity which provides a regular income to cover the cost of care. This has certain tax advantages which a Financial Adviser will explain to you.

The amount of income you’ll get from your annuity depends on the type of annuity you choose and the annuity rate, which is dependent on a number of different factors such as your health and life expectancy.

A Financial Adviser will first of all assess your current circumstances and your needs in order to make you aware of any benefit payments or tax breaks that you may be entitled to. They will then give you expert advice on the right route for your needs, whether that’s an annuity or another financial solution.

Why choose Ostrich Money?

Ostrich Money has teamed up with Aspire Financial Management Ltd which is part of Tenet, one of the largest and longest established financial adviser groups in the UK. Aspire's Financial Advisers, which are based throughout the UK, can give you expert advice on areas such as investments, pensions, protection, tax planning, mortgages, long term care planning and much more for a worry-free financial future.