How do you get the best enhanced annuity rates? When annuity providers (insurance companies) provide quotations for their current annuity rates, one of their primary tasks is to calculate your life expectancy. They will include a number of factors in this calculation including your health, your lifestyle, your smoking habits, your previous occupation, and even your postcode in some cases. Your smoking habits and medical condition(s), both past and present, can all affect your life expectancy. Some annuity providers take these details into account when setting their rates. In some cases, this can mean much higher income levels than those payable from a standard conventional annuity.
It is important to note that any entitlement to a higher annuity rate will be based on a possible reduction in your life expectancy, and not related to your quality of life. That is, you may qualify for a higher annuity income without necessarily having any impairment to what might be termed normal living. For all these annuities, each case is considered individually. If you have any questions regarding enhanced annuity rates please feel free to contact one of our advisers on 0800 077 35100800 169 1256.
