Enhanced Annuity Rates & Advice
An enhanced annuity offers a higher monthly income than a conventional annuity to those with lifestyles that make it likely they will not live as long as other people of the same age. Enhanced annuities are particularly suitable for smokers.
In some cases, enhanced annuity rates can considerably increase your retirement income. It is therefore well worth seeking independent financial advice on enhanced annuity rates.
As enhanced annuities are related to lifestyle issues, their cost is calculated on a points system, and usually no medical examination is necessary.
This contrasts with impaired life annuities, which are calculated based on a medical examination, and a detailed investigation of the annuitant’s medical history. For those with extremely serious health issues, the impaired life annuity would be the more appropriate annuity plan.
Do you need enhanced annuity advice?
Speak to a Principle First annuities adviser on 0800 678 5929 or make an annuities enquiry here
The higher monthly payout from an enhanced annuity reflects the fact that the payments will probably not run for as long a time as for a healthy person.
Enhanced annuities can be purchased as level annuities, where income remains level, or can increase at an agreed fixed rate every year. They can also be linked to inflation.
Today, enhanced annuities are still suitable for smokers, but have expanded and can be available to those who have high blood pressure, high cholesterol, or obesity. However, the annuitant may have to have two of these conditions, to qualify for enhanced annuity rates.
Ask about enhanced annuities now on 0800 678 5929 or make an annuities enquiry here
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