An excellent way of showing the benefits of impaired annuities is to show you a real life case study example. Mr B came to us via a referral from one of our satisfied customers.
Mr B’s pension fund was worth £207,947 and was recommended by a friend who had previously purchased an annuity via our independent specialist annuity service. One of our experienced independent financial advisers (IFA) spoke to Mr B and completed a financial circumstances and medical questionnaire.
The medical questionaire uncovered the fact that Mr B, 6 weeks previously had had a mini-stroke and was also taking prescribed medicine for Diabetes type 2 as well as high blood pressure and cholesterol. His pension company were offering him an annual pension of £8,921. The IFA sent the completed medical questionnaire to all impaired health annuities providers and received quotes ranging from £10,153 to the highest of £11,020. Providing Mr B with an additional £2,099 each year for the rest of his life. As you can imagine Mr B was delighted and so glad he had taken the trouble to shop around for better annuity rates.
This simple case study demonstrates the advantages of shopping around and checking to see if you qualify for impaired annuities.