Life annuity buyers have various concerns about buying a life annuity, all of which centre around getting the best possible income.
The 4 main concerns should be:
1. Age and health of the life annuitant
2. Interest rates
3. Length of guarantee period if any
4. What type of life annuity? a joint life annuity for one portion and a single life annuity for the balance? Or a term certain single life annuity?
5. Life expectancy is increasing
6. Company to be chosen? Funds to be supplied?