Income generation
Releasing cash from your home with an equity release plan is intended to provide you with cash to spend and should not be released purely to invest. However if you release a cash lump sum and would like to generate a regular income we can help you to find a suitable product to do so.
Our research department supports your personal equity release adviser by keeping them up to date with any new equity release products so that your Key Retirement Solutions independent financial adviser can recommend the most competitive deposit accounts and purchased life annuities available.
Deposit Accounts
Deposit accounts provide you with the opportunity to earn more interest on your money/savings than an everyday current account. There are a wide variety of deposit accounts available and providers can offer accounts which can be accessed immediately or those which have notice periods of 30, 60 or 90 days. We would not recommend that you release cash from your home purely to invest into a Deposit Account; however, if you have a sum that you would like to keep aside as an emergency fund, we can help you to find the best option.
Purchased Life Annuities
Purchased Life Annuities are plans which can provide you with a guaranteed and secure income for life. In return for a lump sum a company can provide you with a level or increasing income for the rest of your life. You can also opt to include a guarantee period on your plan which would mean that the income payable would continue to be paid to your estate if you died. And you can opt for a capital guarantee which means that the balance of the money used to purchase the plan is returned to your estate and beneficiaries if it has not been paid out as income. A non-tax payer can benefit from special tax treatment which means the income can be paid without tax being deducted.
You can choose to have the annuity paid to you on a monthly, quarterly, half-yearly or on an annual basis to suit your needs.
To find out more contact us now to speak to one of our independent financial advisers.