Buying an annuity is a way of providing a guaranteed income in retirement, but 70% of people questioned for a recent survey4 were unaware that if they were to be suffering from poor health at the time of purchase, they might qualify for higher levels of income.
Enhanced annuities pay higher rates based on your lifestyle or medical history. Factors such as smoking, diabetes, high blood pressure and heart disease could boost your income as a result of reduced life expectancy. Those suffering from conditions such as asthma, high cholesterol and obesity may also qualify for higher levels of income, depending on how serious their condition is.
4HL, April 2019