When you reach retirement you may qualify for enhanced annuities which can give you up to 30% more retirement income. You do not have to be in poor health to qualify for enhanced annuities, you can qualify for lifestyle as well as health.
What lifestyle factors qualify for enhanced annuities
These are some of the lifestyle factors that qualify for enhanced annuities. Depending on the severity of them will determine the enhancement of annuity rates you will get. These are only a few of the many that can qualify.
- Height and Weight
- Postcode where you live in the country
- The amount of alcohol that you drink and what type of alcohol you drink
- Smoking and how many each day, what you smoke (cigarettes, tobacco or pipe) and how long you have smoked for to qualify for smoker annuity rates.
Annuity providers have many years of data to understand what lifestyle issues can affect life expectancy. It is life expectancy that determines the annuity rate you get. If an annuity provider has to pay out the annuity for what they believe will be a shorter time than average then they will give a higher annuity rate.
There is much evidence in the public domain that indicate that smoking and alcohol in particular reduce life expectancy.