There are ways of protecting your annuity if you're worried about what will happen to it if you die soon after you retire.

You can opt for your annuity to pay out for a specific number of years, usually to cover the first five or ten years of income, even if you die within this time. On your death the income may continue to be paid for the rest of the guarantee period or it may be paid to your estate as a lump sum (and tax may be due on it).

You should not look at a guarantee as an alternative to a joint-life annuity, because any income will stop at the end of the guarantee period, not when your spouse or partner dies.

An annuity protection lump sum death benefit is another way of protecting your annuity if you die before age 75.

A lump sum equivalent to the amount used to buy an annuity, less any income you have received, will be paid to your estate or beneficiaries on death.

There will be a tax charge, and depending on the amount of money within the estate after the payment is made, there could be an inheritance tax charge.

An annuity with a guarantee or an annuity with a lump sum death benefit will be more expensive than a conventional annuity, so the income you will get will be lower.

You can compare annuity rates for single or joint-life, level or escalating annuities at Compare annuities. Enter the type of annuity you're interested in and the size of your pension fund and see what you could get.