Impaired Life Annuity

An impaired life annuity is applicable to those individuals suffering from more serious, possibly life threatening, medical conditions, and and can provide a significantly higher retirement income.

Retirement income

If you suffer from more serious medical conditions insurance companies will usually offer you a substantially higher monthly retirement income than someone in good health.

An impaired life annuity is similar in nature to an enhanced annuity, but is designed to offer you a greatly increased retirement income if you suffer from a more severe, possibly life threatening, medical condition(s). It is classed as a lifetime annuity.

You could be offered significantly higher annuity rates depending on the type of medical conditions and their severity. See the example quotes for various medical conditions on the enhanced annuity rates page.

Annuity rate

You get a much higher annuity rate from an impaired life annuity than from a standard annuity because if you have more severe medical conditions you’re not expected to live as long as a healthy individual. Basically the insurance company will pay you more income because it estimates it will be paying you for a shorter period of time overall.

An estimated 40% of retirees could qualify for a higher annuity rate, and many could be eligible for an impaired life annuity.

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

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.

Best annuity rates

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

To obtain your free, no obligation annuity quotes you can enquire online, or call us free on 0800 0124 374. One quick free phone call from you can make all the difference. We’re here Monday to Friday, 9 am to 6 pm.