Living Time has made an agreement with Openwork Market Solutions (OMS), allowing them to distribute Living Time’s new annuity deals.
Openworks is the IFA for Zurich Financial Services Group. They will now be able to distribute Living Time’s fixed term annuity plans.
These fixed term annuity plans are called:
- The Living Time Income Plan
- The Living Time 75 Plan
Both of these plans give the customer a fixed income for a fixed term up to the age of 75. At any point during this fixed term, or at the end, the customer can choose to make their final annuity decision.
These plans are ideal for those who are unsure which annuity plan to opt for at retirement, or wish to put off making their final decision whilst still getting an income now. With ever increasing life expectancies, plans like these allow customers to change their finances and switch products during the retirement phase of their life.
Kim Lerche-Thomsen, Living Time’s chief executive, said:
“The big advantage is that there is no lifetime lock-in, which means that people have the flexibility to rethink their finances during an ever lengthening retirement phase and to switch to new income products that better suit their situations at that time.
Might be worth looking into when it comes to that important decision. Always be sure to exercise your right and shop around to get the best annuity deal available for your situation. You do not have to buy your annuity from your pension company.
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