Enhanced Annuity Rates

Also known as impaired life annuities.

Standard annuity rates are calculated with reference to the average life expectancy for people living in the UK. This is fine for those in good health, but not so for those who have below average life expectancy.

A large number of people could obtain an enhanced annuity rate when they set up their pension income, yet only a small proportion of people actually apply for them.

If you can answer yes to any of the following questions then we may be able to obtain a higher income for you:

  • Do you regularly smoke cigarettes?
  • Do you suffer from diabetes?
  • Do you suffer from chronic asthma?
  • Do you suffer from or have you ever suffered from a serious illness such as cancer, stroke, or heart attack?
  • Have you recently undergone major surgery?

Some annuity providers will pay you a higher income if you have certain medical conditions. Statistics show that people with certain medical conditions have a shorter than average life expectancy. These specialist providers use this to your advantage: they will pay you a higher income because they calculate your income will be paid out for a shorter period of time.

Ensure you obtain the maximum income possible by declaring any lifestyle or medical conditions when setting up your annuity.