Enhanced Annuities

To obtain Enhanced Annuities you need to be a have qualifying lifestyle or medical conditions. See the list of qualifying conditions that could get you enhanced annuity rates or impaired life annuities below.

The majority of enhanced annuities providers do not sell direct to the public you therefore need to get quotes from an annuity specialist such as Retirement Solutions.

What are Enhanced Annuities?

Enhanced annuities are those that are given to retirees that have a shorter than average life expectancy through their lifestyle or medical conditions. Lifestyle is classified as smoking, excess alchol drinking or being overweight, and medical is where prescribed medication is being taken for things like high blood pressure or high cholesterol levels.

Enhanced Annuity Rates

If you do qualify for enhanced annuity rates then it could make a significant difference to your retirement income. Many of the enhanced annuities providers say as many as 40% of retirees could qualify for enhanced annuity rates. Let our advisers find you the best enhanced annuity quotes.

Just Retirement one of the leading annuity providers estimate that 40% of people could qualify for an enhanced annuity, and that this could improve the lifetime income by up to 41%. If you had a pension fund of £24,000 then that works out about the same as having your fund boosted by about £10,000

Impaired Life Annuities

Usually impaired life annuities are given to those with more serious health conditions, such as liver disease or serious heart conditions. These impaired life annuities usually pay much higher rates than enhanced annuities.

If you need life insurance and you are suffering from poor health or have diabetes then you can get diabetes life insurance from our sister website.

It may come as a shock but not all annuity providers are equal. So, while your pension provider may be a good place to start for your annuity, it doesn't necessarily make it the best choice when it comes to buying your annuity. You can use your right to shop around using what is known as the Open Market Option. Don't forget any extra income you get is for the rest of your lifetime.