There are over 1,500 health conditions for higher enhanced annuity rates; conditions that will be considered for enhanced terms. For an idea of how important this is, and just how many people are effected just look at the following: the percentage of people aged 55 and over who have suffered certain medical conditions, had treatment and/or management by a medical professional, high blood pressure 40%, high cholesterol 30%, heart diseases (angina and atrial fibrillation) 13%, diabetes (types 1 and 2) 11%, stroke 7%, heart attack 7%, COPD 6%, breast cancer 4%, and prostate cancer 3%. This information is from leading enhanced annuity rates provider, MGM Advantage, June 2010.

Aston Goodey, from MGM Advantage comments that whilst it’s encouraging that so many people aged 55 and over are actually having regular health checks, it’s disappointing to learn that so few are aware that certain medical conditions would qualify them for enhanced annuity rates and therefore increased retirement incomes. In some cases, declaring a medical condition could result in an individual being thousands of pounds better off over the course of their retirement and make a real difference to their quality of life. He adds that having a health check before buying an annuity is vital, and if someone discovers they have a medical condition, it’s in their best interest to inform their prospective annuity provider.

That’s right, 75% of retirees miss out on the best UK annuity rates, and 59% could qualify for enhanced annuity rates. More than three quarters of UK adults aged 55 and over are unaware that certain types of medical conditions could entitle them to a higher level of annuity income, according to new research from MGM Advantage. The findings show that millions of people at retirement are potentially missing out on a higher income in their retirement because they’re not taking advantage of the higher annuity rates that come with enhanced annuities. Worryingly, according to the findings, 59% of people aged 55 and over claim they have a medical condition that could qualify them for enhanced annuity rates.

Only one in four people are aware that they could get higher UK annuity rates when they retire if they suffer from certain medical conditions. Four fifths of UK adults over the age of 55 claim to have had a health check within the past twelve months and 65% claim to have had one within the past six months but people are not sharing their results with their annuity providers. MGM Advantage warns that people who don’t mention any underlying health issues could risk losing out as enhanced annuities pay out on average 24% more for men and 22.7% more for women.

This article is all about ill health, medical conditions, for enhanced annuity rates. The following list has been compiled to give you an indication of  the kind of medical conditions that can be considered for enhanced annuity rates. The list is not exhaustive by any means and many medical conditions that are not listed may also be considered. You could also qualify for higher annuity rates if you smoke, have high blood pressure or high cholesterol. It’s important when you request a quote that you inform the adviser of any relevant information as this can impact greatly on the annuity rates you’re offered.

The medical conditions for enhanced annuity rates include Alzheimers, Amyotrophic lateral sclerosis (ALS), Bi-polar Disorder, Blood Pressure, Cerebrovascular Accident (CVA) or Brain haemorrhage (ALS), Cerebrovascular – Lacunar Infarct or Stroke, Cerebrovascular – Subarachnoid haemorrhage (SAH), Cerebrovascular – Transient Ischaemic Attack (TIA), Deep Vein Thrombosis (DVT) or pulmonary Embolism (PE), Dementia (All types), Diabetes, Type 1 and Type 2, Haemochromatosis, Angina, Heart – Aortic aneurysm or abdominal aortic, Arrhythmia, Atrial Fibrillation, Heart Attack or Stroke, Heart – AV block, Heart – Brachycardia or Bradycardia, Asbestosis, Asthma, Bronchiectasis, Chronic Bronchitis, Chronic Obstructive Pulmonary Disease (COPD), Emphysema, Pulmonary Fibrosis, Rheumatoid Arthritis, Schizophrenia, amongst others. If you think you’re eligible, just ask.

Amongst the many people retiring each month, who could really benefit from enhanced annuity rates? For those who are considering buying an annuity there is a lot to consider. A comparison of the general advantages and disadvantages of an annuity contract will help identify whether it is the right retirement vehicle for you. Many such comparisons however will forget to mention that enhanced annuity rates are readily available for certain individuals. With 1,500 plus lifestyle and medical conditions eligible for increased annuity rates there is a strong chance that a large portion of those considering buying an annuity could be eligible for a higher income. 

With annuity rates up to 30% higher, or possibly more, it’s well worth looking into. If you might be eligible then you can make the most of an increased income from when your annuity begins. Some of the illnesses and lifestyle conditions that affect your annuity income include: blood pressure, high BMI, cholesterol, regular smoking, heart conditions (such as heart attacks, heart bypass, angina and an irregular heart beat), diabetes, m.s., lung, liver or kidney disease and cancers to name a few.

When you find yourself with these conditions it can be difficult to deal with and the pressures that they can have on your financial future and life expectancy can be pretty high. For this reason the enhanced enhanced annuity rates provided by certain companies can be a deciding factor in which pension plan to choose.

Higher UK annuity rates are payable for many reasons; your lifestyle, your state of health, and where you live. The thing is, though, it really is up to you; if you don’t mention something relevant, then it can’t be taken into account, which could cost you dearly in terms of lost retirement income. There is a simple reason why higher pension annuity rates are payable. If you consider other financial products, particularly insurance policies, if you smoke or if you’re in poor health you get a worse deal than normal. The opposite is true when it comes to pension annuities. 

Smokers and people in poor health can benefit from these higher annuity rates, for the simple reason that their life expectancy is lower than it is for healthy people, so the annuity provider calculates it won’t have to pay out the income for so long. If you smoke, if you have been ill in the past or even if you’re only slightly overweight it is worth checking out what annuity rates might be available tou you. You could end up with an annuity income 20% to 30% higher as a result.