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enhanced annuity
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An Enhanced Annuity could increase the amount of money those with medical or lifestyle conditions could receive in their retirement.
Up to 40%* of retired people could qualify, and as a result benefit from
up to 35%** more income than from a standard annuity.
Three simple questions
Enhanced annuities are designed for people with medical or lifestyle conditions that can potentially reduce life expectancy. Finding out whether you might be entitled to an enhanced annuity is easier than you might think.
Three simple questions will tell you if you could qualify:
1. Do you smoke?
2. Do you now or have you ever taken prescription medication?
3. Have you ever been hospitalised for a medical condition?
What to do next?
If you answer “yes” to any of the three questions above, you will need to complete a short medical questionnaire, and return it to the
Bank of Scotland Annuity Service.
Some Conventional, With-Profits, and Index Linked Annuity product options are available on enhanced terms. Medical conditions that may qualify include:
However, this is not a comprehensive list so it is worth checking if specific medical conditions are included.
Remember, enhanced annuities are not only for people with serious medical conditions. Lifestyle conditions such as high blood pressure, high cholesterol and diabetes (insulin dependent) could qualify for enhancement on their own or in combination. In fact, over 1,500 medical and lifestyle conditions could qualify.***
Do take the time to provide as much information as possible, as this could potentially lead to
a better pension when you retire.
*Source: Just Retirement research 2004
**Source: Moneyfacts July 2007
*** Source – Just Retirement
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