2013-10-25 21:40:53 - Mylovelyretirement has launched a free online pension/annuity comparison service which allows customers to compare their existing providers’ pension/annuity statements with other, specialist, pension/annuity providers.
Although pensioners are often advised to compare available services and rates in order to find the best possible deals and products, this process has proven to be difficult for some individuals who lack the skills or resources necessary to properly research their options.
Recently, MyLovelyRetirement has launched their new online pension and annuity comparison service, the Annuity Beater, designed to provide pensioners with the tools they need to successfully plan the golden years of their life.
It's common knowledge that a lack of clarity in this particular element of financial and lifestyle planning could have a significant impact on an individual's life. Fortunately, a variety of organisations such as MyLovelyRetirement are helping to promote reform and improvement of the existing
In response to recent actions from the Association of British Insurers and the Financial Conduct Authority designed to encourage transparency and consumer empowerment in the insurance and pension marketplace, insurers are now required to inform their customers of their rights to actively choose between competing policies or providers. MyLovelyRetirement's new Annuity Beater provides a real-world tool that can be used to gain awareness of available choices and annuity quotes within the Open Market Option.
Beginning in October, 2013, customers can visit MyLovelyRetirement's official website and upload their pension statement into the Annuity Beater, which will then return the best available annuity quote when comparing offers from a large number of specialist annuity providers relative to their individual needs. Individuals are under no obligation to purchase products or services discovered through the Annuity Beater, allowing future customers to browse freely and learn more about their potential options. For customers who may not have a pension statement available for use, they can simply answer a series of questions that will still allow for a comparison to be made.
The Annuity Beater has within it the industry’s Common Quotation Form (CQF) which means that customers only have to input their medical details once to obtain comparisons from all the leading annuity providers. This makes the whole process much quicker and ensures applicants have all their specific details captured. It is not that common to find an online comparison tool such as this which encompasses the CQF but it is certainly a step in the right direction.
MyLovelyRetirement is also committed to “providing help without hassle”; unlike most comparison sites they are happy to either provide rates on screen there and then (using their Quick Quote facility) or email full results and leave their customers to decide whether (and when) they wish to proceed.
Alastair Miller, Director of Farsight Limited, recently commented on MyLovelyRetirement's services, stating “MyLovelyRetirement's website exists to help our customers identify the best pension annuity rate available to them using their specific medical conditions and lifestyle choices. For a one-off fee of just 1% of the net pension fund, our clients can access specialist annuity providers offering ill health annuity rates as well as improved rates for those in good health. The message is – whatever your circumstances, health or situation, shop-around; your first pension annuity quote is unlikely to be the best, but MyLovelyRetirement will make sure your last one is.”
Individuals can learn more about the Annuity Beater and MyLovelyRetirement's commitment to empowering consumer by visiting their official website, www.mylovelyretirement.co.uk
Press Contact Details:
Name: Alastair Miller DipPFS
Position: Director – Farsight Financial Ltd.
Address: Evans Business Centre, Dane Street, Rochdale, OL12 6XB.