With a single-life annuity you receive an income until you die – after that the payments stop. It could therefore be suitable if you have no financial dependants; or if your partner has their own pension arranged; or if they’ve a shorter life expectancy than you.

The only time the income would continue after you die with a single-life annuity would be if you also selected to have ‘guarantee period’, which means the annuity continues paying income for a set number of years after you take it out.

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