Put simply, An enhanced annuity (also known as an impaired life annuity) quite often pays you a higher income as your life expectancy is perceived to be lower. If you are a smoker or have been diagnosed with a medical condition then an enhanced annuity could be the one for you.
Am I eligible for an enhanced annuity?
If you can answer yes to any of the following questions, the answer might well be yes:
- Do you regularly smoke cigarettes?
- Do you take ANY regular medication?
- Do you have high blood pressure and high cholesterol?
- Do you suffer from diabetes?
- Do you suffer from chronic asthma?
- Do you suffer from or have you ever suffered a serious illness such as cancer, stroke, heart attack, angina or multiple sclerosis?
- Have you recently undergone major surgery?
If you have answered yes to any of the above questions, let us know. We can check if you qualify for special annuity rates. You may be asked to fill in a simple questionnaire to check whether you will qualify for a higher income.
For an enhanced annuity a medical may be required