Flexible Income Annuity Proving to be Popular as an Alternative to Income Drawdown

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My Pension Expert comments on the latest results released from MGM Advantage on Flexible Income Annuity sales.

My Pension Expert
In order to manage the fall in income from income drawdown at the income review, many advisors have been suggesting investment-linked annuities.

Results have been released from MGM Advantage that suggests sales of the Flexible Income Annuity are up 58% from 2011. The surge in popularity for this type of annuity has been due to many advisors looking for a potential exit strategy for income drawdown customers.
In order to manage the fall in income from income drawdown at the income review, many advisors have been suggesting investment-linked annuities. This is due to the Flexible Income Annuity allowing clients to access 120% of the annuity quote instead of the income drawdown level of 100% of GAD.

Flexible Income Annuities and Invested Annuities also take into account an annuitant’s health which could significantly improve the quote also.

While there are ranges of annuities available, investment-linked annuities are attracting customers as they have the advantage of a guaranteed minimum income and the opportunity for investment growth.

My Pension Expert has commented that this type of annuity is attractive to people who are due to retire in the coming years, showing that people are concerned and considering their options wisely.

It is clear that people, in an ever-changing economy, are looking for the best annuity that maximises income, however, it is always essential to seek financial advice and shop around before locking in to an annuity.

My Pension Expert is a company of Diploma Qualified Independent Financial Advisors who specialise in the at retirement market.

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Samantha Green
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