If you've got a lump sum to invest and want the confidence of a guaranteed income, our Purchased Life Annuity could be the answer. It could also be tax efficient as part of the income you get may be tax-free.
We can set up an income that will last the rest of your life, so you don't have to worry about your money running out.
It's important that you consider your options carefully and get financial advice if you're not sure what to do. There may be a cost for this. Once your plan is set up you'll have 30 days to cancel it if you change your mind. After that period you can't cash it in, change your options or move it to another provider. If you cancel your plan during that 30 day period you may get back less than your initial investment.
A Purchased Life Annuity is one way to buy an income for life but there are other options. If you've been earning and paying UK income tax in the current tax year then you should also look at our Immediate Vesting Personal Pension Plan.
If you qualify, the money you invest in an Immediate Vesting Personal Pension would be topped up with tax relief. Tax relief may be altered and the value to the investor depends on their financial circumstances.
Any reference to legislation and taxation is based on our understanding of the law and HM Revenue & Customs practice in the UK as at July 2010. Tax and legislation may change in the future.
Before buying a Purchased Life Annuity you need to be fully aware of the risks and commitments. You can read on to find out more or download our Key Features Document which explains these in detail.
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