Annuity Quotes Compared

There are many examples of annuity quotes, on the standard annuity rates page, the smoker annuity rates page, and the enhanced annuity rates page. Here we pull some of them together to illustrate the effects ill health and smoking has on annuity rates.

Annuity rates for ill health and smoking

A selection of quotes; for ill health, smokers with ill health, and smokers

The figures are monthly and are based on a £50,000 pension fund, after taking tax-free cash, and are on a level basis, with no guarantee period. The first two are typical examples of ill health, the next two are in respect of a smoker with ill health, and the last two are ’smoker only’ quotes. These are compared to leading non-smoker quotes (standard rates) to highlight the extra income available.

Example 1. Rheumatoid arthritis. Needing help with most activities of daily living.

Example 2. Breast cancer. Spread to lymph glands. Had radiotherapy.

Example 3. Smokes 25 cigarettes per day and recently diagnosed with lung cancer which has spread to the bones. Has had radiotherapy and is currently in the middle of a cycle of chemotherapy.

Example 4. Smokes 25 cigarettes per day. In good health generally but takes two medications controlling blood pressure and a statin to keep cholesterol low.

‘Smoker only’ quotes

Male life. Monthly incomes from a £50,000 fund. Level income, no guarantee period.

Female life. Monthly incomes from a £50,000 fund. Level income, no guarantee period.

Comment

These examples illustrate very clearly the effects varying types of ill health and smoking can have on annuity rates. Other examples are shown on the smoker and enhanced annuity rates pages.

In addition, there are postcode annuities, which can result in you getting higher, or lower, annuity rates, depending on where you live.