Enhanced Rates

Your smoking habits and medical condition(s), both past and present, can all affect your normal life expectancy. Some annuity providers now take this information into account when setting their annuity rates. In some cases, this can mean substantially higher income levels than those payable from standard conventional annuities. It is important to note that any entitlement to an improved annuity rate will be based on a possible reduction in your life expectancy, not your quality of life. That is, you may qualify for a higher income without necessarily having any impairment to normal living.

The Annuity Bureau can help you to source the best enhanced annuity rate which can significantly improve the income available to you at retirement. Please note that each case is assessed individually and if you think that you might qualify, please contact one of our Consultants.

Smoking

If you smoke 10 or more cigarettes a day and have done for the last 10 years or more, you may qualify for enhanced annuity rates. These rates can make quite a substantial difference to your retirement income. If you stop smoking after you have purchased your annuity your income will not be affected.

Health

Similarly, you may qualify for enhanced annuity rates if you are in ill health or have had any previous illness or major surgery, which is likely to reduce your lifespan. The illnesses that may qualify include diabetes, liver impairment, hypertension (which cannot be controlled by medication), heart conditions and many types of cancer, whether or not you are in remission. If you are including a spouses or partners pension, his or her health should be also assessed because it may improve your income.

Other illnesses include: Alcohol Dependence, Asthma, COPD, Colitis, Crohns Disease, Fatty Liver, Heart Murmur, Lifestyle, Obesity, Pacemaker, Poor Circulation, Pneumonia, Stent, Thrombosis and Von Willenbran. Please note that this is not an exhaustive list. For more information, please contact us.