Retirement service for people living with diabetes
Some good news at last! You may be able to increase your pension income when you decide to draw your benefits from a private pension or employer sponsored pension plan at retirement, because you have diabetes.
Pension income is predominantly provided through something called an ‘annuity’, which can be purchased at any time from age 55. People living with diabetes may benefit from annuities at special rates - giving you a higher level of income in your retirement. These special rate annuities are called ‘enhanced annuities’.
Find out if Diabetes UK Insurance Services can help you to secure a special rate by visiting our free annuity quotation comparison website. Alternatively you can call 0800 731 7431 (select option 5) or email annuitydesk@heathlambert.com to request a free quote today.
How does the annuity service work?
Diabetes UK Insurance Services have teamed up with Gallagher Employee Benefits to provide access to a comprehensive annuity service.
An annuity is provided by an insurance company and pays you a secure income for the rest of your life. Your choice of which insurance company to provide your annuity is crucial, because once the annuity has started you cannot change your mind – it is an irreversible decision. However, you do have the choice of selecting the insurance company that will provide you with the best level of pension income. The choice is yours and you should use it. This is known as ‘The Open Market Option'.
The Open Market Option – it’s important to shop around
You do not have to stay with your existing pension provider when you want to buy an annuity, in fact the difference between the highest and lowest annuity incomes available can be quite significant.
It is therefore very important for you to use your freedom to ‘shop around’ to secure an income based on your current state of health.
The Gallagher Employee Benefits annuity service provides you with the means of finding one of the most competitive annuity rates at retirement, that also takes into account your state of health. The aim is to maximise the income available to you from your existing pension fund(s).
You can speak to a qualified adviser on the telephone or use the online search facility that allows you to input your details, select the criteria relevant to you and then provide you with immediate comparative annuity quotations. The service also now offers the ability to apply online for funds under £40,000.
Important information
It is important to understand that in providing this service Gallagher Employee Benefits will not be providing you with any financial advice or a personal recommendation, unless you specifically require it.
The service is therefore provided on a non-advised basis, meaning that you have neither sought nor received a personal recommendation.
This service also raises valuable revenue for Diabetes UK as a percentage of any income earned by Gallagher Employee Benefits will be given to the charity at no additional cost to you.
For more information on how to use the annuity service, to speak to a qualified adviser or to start searching the market for the best deals around, you can either telephone 0800 731 7431 (select option 5) or visit the free annuity comparison website.
Lines are open Monday to Friday 9.00am to 5.00pm or you can e-mail annuitydesk@heathlambert.com
Diabetes UK Insurance Services is a trading name of Heath Lambert Limited (HLL) and Gallagher Employee Benefits.
Gallagher Risk & Reward Limited is authorised and regulated by the Financial Services Authority. Registered Office: 9 Alie Street, London, E1 8DE. Registered No. 3265272 England & Wales. www.gallagherheath.com