Increased annuity quotes for ill health, kidney transplants, cholestrol, DVT, obesity, smokers, and liver problems are available in the market, as well as for many, many other types of medical conditions. It took me a few years in the industry before I got to grips with this, but once I got a grasp of things it all became pretty straightforward (doesn’t it always?). Anyway, depending on how severe a medical condition might be dictates the actual annuity quote you get; the worse the condition, the higher the quote. The percentage increase depends on the starting point, the quote you get from your current pension provider, and the quote itself. Higher quotes of up to 75% are attainable. To quote Michael Caine, ‘not a lot of people know that’, but it’s right. The medical conditions mentioned in the title are only a small number of the ones that can be considered for eligibility for these higher quotes, and there are over 1,500 medical conditions covered.
These increased annuity quotes are available with enhanced annuities or impaired life annuities, and these can pay incomes much higher than you might get on a standard basis from your current pension provider. We can possibly achieve a much higher retirement income for you, potentially as high as 75% higher, if you suffer from certain medical conditions (naturally the increase is not as much for less critical medical conditions, but still worth getting). And why are these higher quotes available, I hear you ask? This is the bit I took a while to understand, although it is pretty simple, really. It is because those individuals who suffer from ill health will have a lower than average life expectancy, i.e. they are not expected to live so long, and therefore the annuity provider (the insurer) will reckon on making higher income payments because they will pay out for less time. We can even get regular smokers up to 30% higher annuity quotes.
