Flexibility is a crucial ingredient

We all understand that conventional guaranteed annuities provide simplicity, security and guarantees...

We all understand that conventional guaranteed annuities provide simplicity, security and guarantees. However, the rigidity of a conventional annuity is not good news for all. The main criticisms of conventional annuities are perceived poor rates, inflexibility of income, lack of investment control and inferior death benefits. We have also found that one of the main reservations towards annuity purchase is the 'once-and-for-all' decision. Although divorce can now undo an annuity, it is a fairly drastic way of doing so. By buying a conventional annuity, not only do you lose control of your...