It is an important statistic that around 40% of retirees could qualify for increased annuity rates via an enhanced annuity or impaired life annuity contract, but very few actually bother to apply for them.
All that is needed is a bit of time. Time to answer a few important questions if you have lifestyle or medical conditions (ill health) that might lead to you having a reduced life expectancy.
Increased annuity rates can also apply if you are a regular smoker.
By providing full information about yourself in these scenarios you will probably achieve better annuity rates for yourself. The job of Origen, our FSA authorised partner, is to get you the best annuity rate for your circumstances. This could range from 20% more upwards depending on the severity of any medical condition and any medication (severe health points towards the aforementioned impaired life annuities).
A simple message, if you think you might qualify for increased annuity rates, and remember, around 40% of retirees do, tell an annuity specialist, and let them get some annuity quotes for you.
