When you purchase a guaranteed annuity you purchase a fixed guaranteed annuity rate which other than if you add an option of indexation or escalation the annuity rates will not change. This for many retirees is the safest option there is at retirement. This is why guaranteed annuities are called secure pensions.
The single biggest worry for retirees is not having sufficient income to meet their everyday needs and fund emergencies. That is why guaranteed annuities are very popular. The fact is though that only one third of people that purchase an annuity do so using the open market option. The two thirds that do not use the open market option could be missing out on significant income for the rest of their lives.
Higher Annuity Rates With Guaranteed Annuity
To get higher annuity rates on your guaranteed annuity you just need to use the open market option. By using an annuity broker you could get as much as 60% more income for serious health conditions. Even for mild lifestyle conditions such as being over weight can add 10 to 15% onto your annuity rate.
So to get the best annuity rates find a good annuity broker and use your right to the open market option.