Standard annuity rates are calculated with reference to the average life expectancy for people living in the UK.
This is fine for those in good health, but not so good for those who have below average life expectancy.
An enhanced or impaired life annuity pays a higher income because an allowance is made for any medical
conditions which might reduce life expectancy
Lifestyle Annuities
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| Lifestyle annuities take into account certain behavioral and environmental
factors, as well as medical factors to determine if you have a reduced
life expectancy. Any factor that may reduce life expectancy may be considered.
These include smoking - 10 cigarettes, or the equivalent cigars or tobacco,
a day for the last 10 years, obesity / high cholesterol, hypertension
/ high blood pressure and diabetes mellitus |
Enhanced Annuities
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Impaired Life Annuities
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| These pay out more than lifestyle
but not as much a fully impaired annuity as they are designed for those
with a reduced life expectancy but to a lesser degree than a fully impaired
annuity. |
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An impaired life annuity pays
an even higher income for those who have significantly lower life expectancy.
The insurer will require a medical report from your doctor (no need
for you to have a medical examination). Medical conditions such as;
heart attacks, heart surgery or angina, life threatening cancers, major
organ diseases e.g. liver or kidney and other life threatening illnesses
such as Parkinson's and strokes will be considered. |