Let’s not focus on the doom and gloom of falling annuity rates here. Instead, let’s take a look at what you can do counter the falling rates as best as you possibly can.

We’ve talking before on the importance of shopping around and how you should compare annuities before making a purchase. But what we want to focus on now, is enhanced annuities.

What Are Enhanced Annuities?

Enhanced annuities are, basically, annuities for those with certain condition or meeting certain criteria. They offer higher rates than standard annuities. This is because the criteria that people have to meet in order to be eligible for enhanced annuities, are criteria that would be expected to hinder your life expectancy. As annuity rates are calculated based on life expectancy, this means higher monthly payments.

What Are the Eligibility Criteria for Enhanced Annuity Rates?

The most common eligibility criteria for enhanced rates include:-

Smokers

If you have smoked at least ten cigarettes per day or more for ten years or more, you’re likely to be eligible for enhanced annuity rates. This Is because smoking is related to a large number of life threatening illnesses.

Unhealthy BMI

If your body mass index puts you in an unhealthy weight category, you could also be eligible for enhanced annuity rates. This is based on the fact that being of an unhealthy weight is also linked to  a number of health conditions.

Pre-Existing Medical Conditions

There are a whole host of pre-existing medical conditions that could mean you qualify for enhanced annuity rates. These include chronic chest problems, heart disease, high blood pressure and a whole host of others. Even if you don’t consider your health condition to be one that hinders your life, it’s still worth finding out whether you could qualify for enhanced rates, as this could mean a significantly higher annuity income!

How Do I Apply for Enhanced Annuity Rates?

We can help! You can speak to one of our professional advisors who can ascertain whether you might qualify. We’ll then search the market to find the best options for you.

You will have to complete a medical questionnaire to apply for enhanced annuity rates but our experts can advise you if you have any problems.

Complete our secure enquiry form to the right of this page or call us on 0800 644 6021.