A what? Almost 40% of consumers 'unsure what annuities are'

The research, which found 37% of consumers had no concept of annuity products, comes from the find-an-adviser search option on the Unbiased website which asks consumers questions regarding financial services. The research comes only a fortnight after the Association of British Insurers' (ABI's) 'annuity window' was launched to highlight the importance of consumers shopping around for the best annuity product and rate. Unbiased chief executive Karen Barrett (pictured) said: "There is no doubt that shopping around for the best annuity deal is one of the most important financial decision...