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Conventional Annuity

Pays you a guaranteed annuity income for life

This is the standard type of annuity. A conventional annuity pays you a guaranteed annuity income for the rest of your life, regardless of what happens to interest rates or investment markets in the future.

Your chosen annuity provider takes on the future risk of providing you with a guaranteed annuity income in return for the money you saved into your pension fund during your working life. The annuity rate you receive reflects the current market conditions when you take out your annuity. A conventional annuity assumes you have no particular health or lifestyle conditions.

You may be eligible for higher annuity rates through an enhanced annuity depending on your health and lifestyle conditions. Read more about enhanced annuities here.

Click here for your free, no-obligation annuity quote

Ask one of our Annuity Specialists for more information about conventional annuities, and a comparison table showing the highest annuity rates available for this type of annuity from the UK’s leading annuity providers. Call us now on 0800 652 1316.


  • Inflation will reduce a level annuity over time. Escalating annuities provide a lower starting income, e.g. if escalating at 3% per annum, approximately 33% lower than a level annuity.
  • A single life annuity has no death benefits unless the appropriate option is included.
  • No opportunity to participate in future investment returns.
  • Once in force, the annuity contract cannot be changed.


  • Secure level of income for life, allowing you to budget more accurately.
  • Benefits for your spouse or any nominated beneficiary on your death, if selected.
  • No investment decisions nor investment risk involved.
  • Improved enhanced rates if you have qualifying medical conditions or lifestyle issues. 


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