How to apply

Individual Annuities

A quicker, streamlined approach

During the current COVID-19 situation, we’ve made some temporary changes to our process to help you and your clients during this difficult period.

1. Our annuity quotations are now guaranteed for 60 days, rather than 30, allowing more time for information and funds to get to us.

2. If you are unable to return a signed application form to us via post or email, we can now accept an email from the policyholder, along with an unsigned PDF copy of the quotation and application, as confirmation to proceed. We’d encourage you to return applications to us as soon as you can.

For more information please contact us on 0345 845 0099

Quick Checklist Before You Proceed

Before you apply

You will already have had a quote. Before proceeding to the application you should ensure that your client has been provided with:

a copy of our Key Features (PDF)
a discussion about payment for services or advice.

What you need to apply

Confirmation from the client of their consent to any Adviser Charges
Discharge papers from transferring company, if applicable
Completed lifetime allowance form
Trustee, administrator and member signature (as applicable).

Please return completed forms to:

Scottish Widows
NB Annuities
Initial Processing Centre
15 Dalkeith Road
Edinburgh
EH16 5ZE

What happens when we receive your application?

Quote will be guaranteed for 30 days from the date the quote is produced. The application form and purchase price must be received within the 30 days for the terms in the quote to apply.

We have a dedicated administration team who will be reponsible for setting up and dealing with all post sale aspects of our Annuities.

The administration team will:

on receipt of application form, validate the information in the form to enable us to set up the annuity on the correct basis
contact the ceding provider on receipt of the application form to obtain the purchase price. This will be done by ORIGIO options or by post
check to see if the purchase price is received after the end of the guarantee period. Where this is the case, and the enhanced annuity rate has decreased, we will issue a new quote.

On completion of the checks the administration team will:

arrange a payment of any tax free cash (transfer only)
set up annuity income payments
organise payment of any adviser charge or commission
issue policy documentation, including the Policy Schedule, to the customer. If requested copies can be issued to you.

HOW TO GET A QUOTE

If you are new to the Annuity market or have not worked with Scottish Widows before, you need to be registered on the quote portals to get a quote and also be registered with Scottish Widows and have an agency code in order to proceed.

Apply using portal for an instant best quote and comparison quotes from other suppliers.

IS YOUR CLIENT NEW TO SCOTTISH WIDOWS?

If you are already set up with one of these portals you will be ready to quote for a Scottish Widows Standard or Enhanced Annuity.

IS YOUR CLIENT AN EXISTING SCOTTISH WIDOWS CUSTOMER?

Standard and Enhanced Annuity quotes are available through the portals.

Alternatively, we can provide you with a Standard Annuity quote over the phone

Please call 0345 716 6777 for a quote.

Advantages of portals