Annuities: how much does each option you choose affect your income?

Most of us know that when you buy an Annuity you have to make a few choices. Should the income be paid monthly or yearly? What guarantee period do you include? Do you include a spouse’s pension? How much would you like your spouse get on your death? These are just some of the decisions you will need to take. As a rule the more options you add to your Annuity, the lower the starting income will be, but just how much difference does each option make? We thought we would take a look. Costs v Benefits The three most popular benefits ...