Impaired life and enhanced annuities

Some insurance companies offer annuities that pay you a higher-than-normal income if you have a diagnosed health problem that threatens to reduce your expectancy and ultimately reduce the time they will have to pay you an income.

These are called impaired life annuities.

Relevant health problems might include but are not restricted to:

• cancer;

• chronic asthma;

• diabetes;

• heart problems – such as history of attacks or surgery;

• high blood pressure;

• kidney;

• multiple sclerosis;

• strokes

You might be able to get an enhanced annuity if you are very overweight or smoke regularly.

Some companies offer higher rates to people who have followed certain occupations and to people living in certain parts of the country.

Companies change the eligible conditions and the effect they have on their annuities rates so it pays to shop around and compare the income you can get from different annuity providers.  Annuity Arrow will do the search and comparing for you and provide you with the result of our investigations. It could pay you to utilise our annuity experts and the knowledge we have of impaired life annuity.  This could result in a higher income level for you.

You may need to undertake a medical assessment or provide written evidence to support your application for an impaired life annuity.