Get The Best Enhanced Annuity Rates With Annuities Advice

 

Enhanced annuity rates could increase your retirement income by up to 30% compared to standard annuity rates. This could mean the difference of hundreds and sometimes thousands of pounds in extra retirement income.

 

What many people fail to realise, is that as many as a third of us could be eligible for these higher rate annuities. The annuity providers calculate the rates in accordance with life expectancy meaning that if they "expect" you to pass away earlier than the "average" person then they won't have to pay the money to you for as long a period and therefore can offer you a higher, or enhanced, rate of interest.

 

 

How To Qualify For Enhanced Annuity Rates

 

Enhanced Annuities - Higher rates for minor medical conditions and lifestyle factors

 

Although eligibility criteria varies from one annuity provider to another, there are some common factors that, if applicable to you, could mean you are eligible for enhanced annuity rates. The main factors that influence the rates are health concerns and your lifestyle. Any lifestyle factors that could affect your health and ultimately life expectancy could be considered.

 

Some lifestyle factors that could lead to enhanced annuity rates are:

 

- Obesity

 

- Worked In a Hazardous Occupation Most Of Your Life - e.g. Asbestos Or Chemicals

 

- Smoking

 

 

Call Us On 08000 936399 Or Use The Quick Quote Form On The Right To Source The Best Annuity Rates

 

 

Impaired Life Annuities - Higher rates for serious medical conditions

 

Any health issues, including some minor health concerns, could also make you eligible for enhanced annuity rates. Obviously the more serious issues such as cancer, stroke, heart attack and other conditions of this level of severity will pretty much guarantee you enhanced rates, but there are some other conditions that you may not have thought of, that may make you eligible for enhanced rates.

 

Some other medical conditions that could make you eligible for enhanced annuity rates are:

 

- Diabetes

 

- High Blood Pressure

 

- High Cholesterol

 

- Asthma

 

The enhancement of the rate is usually paid on a sliding scale where the more severe the factors, ie the shorter your life expectancy, the higher the rate that will be offered. Just be aware that you will usually have to get a General Practitioners Report (GPR) to confirm any declarations made on the application form.

 

 

Getting Enhanced Annuity Rates - Next Steps

 

If, like most retirees, you are interested in getting the best enhanced annuity rates then the next step is to get independent financial advice from a qualified professional.

 

Annuity advisers know the market and work with the providers on a day to day basis so will be aware of the different eligibility criteria of the companies. What this means is that, after completing a fact find with you, they will be able to source the best enhanced annuity rates by sourcing the correct provider that will look favorably on your lifestyle and medical conditions and therefore be in the best position to offer you the enhanced rates. 

 

Since one annuity provider may be the best for one person but the worst for another, it is crucial that you seek advice from a professional as oppose to trying to source your own deal.

 

Some points to bear in mind when speaking to your adviser are:

 

- Be totally honest - It is better to tell your adviser too much rather than too little. The more he or she knows about you, the better position they are in to source the best deal.

 

- Consider a joint annuity - you may be in perfect health and hit the gym five times per week but if your spouse or partner has medical or lifestyle concerns then you may be eligible for enhanced rates if you chose a joint annuity. Your adviser will be able to discuss this with you in further detail.