Enhanced and Impaired Life Annuities; Do You Qualify?
Enhanced and impaired life annuities are for people with medical or lifestyle conditions, and for those who smoke regularly. They can be significantly higher than standard annuities. Four out of ten people qualify for these higher paying annuities and quotations should be requested. The extra income could be up to one-third more than a standard annuity.
Enhanced and impaired life annuities are designed for people with medical or lifestyle conditions that can potentially reduce life expectancy. Finding out whether you might qualify is easier than you might think. Three simple questions to be answered:
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 provide details for an accurate annuity rate to be calculated.
Medical conditions that may qualify include: cancer, heart conditions, diabetes, asthma, obesity, high blood pressure, organ transplants, stroke, liver disease, alzheimer’s, chronic lung disease, kidney disease, multiple sclerosis, Parkinson’s Disease, or a disease of the central nervous system.
However, this is not a comprehensive list so it is worth checking if specific medical conditions are included.
Remember, enhanced and impaired life 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 count.