Enhanced Annuity

An enhanced annuity is one that gives you higher rates because annuity providers think you have a shorter life expectancy than standard. You do not automatically qualify you have to submit your lifestyle and medical information and be assessed by an underwriter.

How do you qualify for enhanced annuities?

There are over 1500 medical and lifestyle conditions that can allow you to qualify for enhanced annuities, you can combine them for further enhancements. First lets look at the sort of criteria that annuity providers take into consideration:

• Your gender
• Your age when you take the annuity
• Any dependants pensions to be paid
• Your lifestyle i.e. do you smoke
• Your health
• Your postcode
• The options you choose for your annuity, i.e. guarantee period

Around 40% of people qualify for enhanced annuities and many for smoker rates or for being overweight or obese. By combining conditions you can further enhance the rates, ensuring you really do get the best annuity rates. So for example, if you were a smoker and overweight then you may well qualify for further enhancements than one or the other on its own.

More serious conditions like cancer, heart attack or diabetes could give significantly enhanced annuity rates.