We estimate that 60% of people could qualify for an enhanced annuity.
From fairly common health and lifestyle conditions such as high cholesterol, excess weight or smoking, to more serious or life threatening conditions such as cancer and heart disease, enhanced annuities can typically provide an increase of around 43%* - sometimes even higher - in the income you’ll receive in retirement compared to the lowest standard annuity.
It's probably easier than you think to qualify
As everyone’s circumstances are different, before you make any decisions we strongly encourage you to seek personal advice from a financial adviser. But to give you an idea, you could well be eligible for an enhanced annuity if:
1. You smoke
2. You currently take, or have ever taken, prescription medicine
3. You've ever been hospitalised for a medical condition
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Next steps To find out how much more income you can receive with an enhanced annuity, ask your adviser to take you through a questionnaire covering your health and lifestyle and obtain quotes for you.
It is important that your financial adviser takes everything into account before deciding whether or not you qualify. If you don’t have one, you can go to Unbiased.co.uk , a service which lists financial advisers in your local area.
* Based on a male aged 65, with a £45k fund, 5 years guaranteed, no escalation, no value protection, based on RH2 7RU postcode, compared to the lowest standard annuity rate offered via Avelo Exchange on 06.03.12.
Useful links Annuity options
Just Retirement's enhanced annuities
Example case studies