It’s important you know about eligibility for higher enhanced annuity rates. If you suffer from a medical condition or conditions or have lifestyle choices that will impact your life expectancy then you might well be eligible for higher enhanced annuity rates. These rates are higher because the annuity provider calculates that they will have to pay out income for a shorter period of time compared to if you were fit and healthy and of average life expectancy. To find out whether you are eligible you must complete an enhanced annuity questionnaire.
This consists of a series of short questions about your health and lifestyle such as how much you drink or smoke on a weekly basis, your blood pressure, your cholesterol level, what exercise you take and and how often and any current or previous medical conditions. Sometimes you will be asked to provide a form of evidence of past or current conditions via a report from your GP. How much the enhanced annuity rates are increased will depend on the extent to which your situation will upon impact life expectancy. Mild conditions or lifestyle choices could see your annuity income increase by around 5%. More serious medical conditions such as heart attacks can result in an income increase of around 40%.
