Impaired Life Annuity

An impaired life annuity is similar in nature to an enhanced annuity, but is designed to offer increased annuity rates to those suffering from more severe, possibly life threatening, medical conditions. It is classed as a lifetime annuity.

Much higher annuity rates

These depend upon the severity of the medical condition(s)

The actual rates payable do depend on the type or types of medical conditions and their severity. Significantly higher annuity rates are available for a very serious case of  ill health.

You could get a higher income for the rest of your life

Statistically most people will be in their retirement for longer than 20 years. You get a much higher annuity rate than with a standard annuity because people with certain more severe medical conditions have a far shorter life expectancy than those who don’t. An estimated 40% of retirees could qualify for higher annuity rates, and many of them could be eligible for an impaired life annuity.

You could receive a significantly higher annuity income for the rest of your life. You could be in retirement for many years to come, so it all adds up.

An impaired life annuity also guarantees to pay you a regular income for life, so it really is a low-risk option.

Impaired life annuities may pay out a lot more than standard annuities, and it is possible to get annuity rates 60% higher, or possibly even more.

There are over 1,500 medical conditions that can be considered for higher annuity rates, and some of the more serious ones could well mean you’re eligible for impaired life annuity rates, and it’s well worth enquiring.

Why the higher rates

Shorter life expectancy

These increased rates are applicable because of the expectation of a much reduced life expectancy, and the fact that any annuity payments are anticipated to be payable for a shorter period of time. 

To apply

Disclose all relevant information

You will be expected to provide full details of your medical condition(s) and any medication being taken to be considered for this type of annuity. However, with the significant financial benefits that are available it is well worth you taking the time to provide this information.

We can assist you with a dedicated telephone underwriting service, immediate accurate (i.e. not just indicative) annuity quotes, and also a 45 day quote guarantee period for impaired life and enhanced annuities.

Should you wish to make an enquiry regarding an enhanced/impaired life annuity for ill health, please see the enhanced annuity enquiry page.