GE Life improves annuity rates

GE Life today has announced improved annuity rates which are effective immediately.

However, it is feared that many people could miss out on the extra income because they fail to purchase an enhanced annuity.

Last year around 125,000 people missed out on the chance, despite being eligible for an enhanced annuity.

A recent survey showed that many people felt that health and lifestyle reasons were affecting people's purchases.

However, Matt Trott, annuities product manager, is encouraging people to be more pro-active: "Annuity rates have been generally falling over the last twelve months.

"This means that it is more important than ever that people shop around for the best rate, especially if they are eligible for an enhanced annuity," he concluded.