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I looked into getting a life annuity because my lifestlyle doesn't fit into the traditional pension system. However, the insurance company won't tell me exactly how much I will receive in annuities when my policy matures. Is this normal or should I try another insurance company?
Hi there,
As a general rule, you should only take out a life annuity policy if the annuity you receive when the policy matures is fixed and guaranteed. You need to be able to clearly calculate whether the annuity you will receive is worth the premiums you pay.
Best regards from Moneyguru
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