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Joint annuities
Joint annuities, or joint like last survivor annuities to give them their proper name, are a form of either normal or investment linked annuities which are designed for couples.If you have a partner who does not have an independent income then you might want to consider a joint annuity.
Normal annuities stop paying income on the death of the beneficiary. Whereas joint annuities continue to pay the surviving partner at either the same or a reduced rate for the rest of their lifetime.
Typically the reduced rates for joint annuities are 66% or 50% income. With some pension schemes the law states that there is a 50% reduction of income for the remaining partner.
To find out which annuity would best suit your needs, or if you already know what you need, complete the free, no obligation annuity quote form below . Our financial advisers will look at the current annuities marketplace and provide comparisons specific to your needs and requirements.
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