Are you getting the best annuity rates?
When purchasing an annuity you may be able to get the best annuity rates by considering if you qualify for enhancements.
Lifestyle Annuities
Lifestyle annuities take into account certain behavioral and environmental factors, as well as medical factors to determine if you have a reduced life expectancy. Any factor that may reduce life expectancy may be considered. These include smoking – 10 cigarettes, or the equivalent cigars or tobacco, a day for the last 10 years, obesity, high cholesterol, hypertension, high blood pressure and diabetes.
Enhanced Annuities
These pay out more than lifestyle but not as much a fully impaired annuity as they are designed for those with a reduced life expectancy but to a lesser degree than a fully impaired annuity.
Impaired Annuities
An impaired annuity pays an even higher income for those who have significantly lower life expectancy. The insurer will require a medical report from your doctor (no need for you to have a medical examination). Medical conditions such as; heart attacks, heart surgery or angina, life threatening cancers, major organ diseases e.g. liver or kidney and other life threatening illnesses such as Parkinson’s and strokes will be considered.
Examples of some of the conditions that may qualify
cancer heart conditions diabetes asthma obesity high blood pressure organ transplants stroke liver disease alzheimer’s chronic lung disease kidney disease multiple sclerosis Parkinson’s Disease or a disease of the central nervous system. It is estimated up to 40% qualify for enhanced annuities
If you can answer yes to any of the following questions you may be able to obtain a higher income:
Do you regularly smoke cigarettes?
Do you take regular medication?
Have you ever been hospitalised for a medical conditions
Based in the UK, AnnuitySupermarket provide independent and to clients nationwide. We help clients find the best quotes from the Open Market – Call us on 0800 043 0725