No one ever wants to think that they may have an “impaired life”, but if you have high blood pressure, smoke or if you have a condition which may impact on your life expectancy (even only slightly) we may be able to get you a higher than normal, enhanced annuity and that little bit extra might make all the difference.
These are the most common sort of conditions that may improve your income for life, high blood pressure, obesity, diabetes, chronic respiratory disease, smoking, angina, heart attack, prostate cancer, atrial fibrillation.
How much difference could it make?
A 65 year old person buying a single life annuity with an initial amount of £100,000 could achieve a 17% difference in their income using an enhanced annuity. The indicative rates below are for an overweight smoker with high blood pressure and high cholesterol-(Money Advice Service Annuity Calculator) as at Oct 2023.
| Provider | Standard Annuity | Enhanced Annuity for someone with medical issues | % Difference |
|---|---|---|---|
| Aviva | £7,305 | £7,798 | +7% |
| Canada Life | £7,305 | £7,978 | +9% |
| Just | £6,907 | £7,083 | +3% |
| Legal & General | £7,180 | £8,390 | +17% |
| Scottish Widows | £7,471 | £7,444 | - |
| Standard Life | £7,313 | £7,706 | +5% |
Other medical conditions can create an even greater enhancement. This could make an enormous difference to your income. You can see the underwriters have taken different views and it is really important to compare across the board.
Contact Us for further information
A number of the leading firms in this market have initiated a project to produce a common quotation form. The insurers listed all offer enhanced rates, based on the same set of questions, which will save you a lot of time. However this form is regularly updated so below is a link to the project website which always holds the latest version. Follow the link below, download the form, complete it, then post, email or fax it to us and we will do the rest – in strict confidence. And we will then see if we can get you qualified for an enhanced annuity for life.