Enhanced Annuities
What is an enhanced annuity?
An annuity is a retirement product that lets you swap pension savings for a regular guaranteed income. Enhanced annuities pay you a higher rate of income depending on your lifestyle choices and medical conditions.
Even confirming some basic details, could mean you get a higher income. For example, your height, weight, smoking history or relationship status.
It's important to confirm as much information as you can, including your partner's details to make sure you get the highest income possible.
What medical conditions qualify for an enhanced annuity?
Providers take into account minor to serious medical conditions when you get an enhanced quote. Common conditions include:
- High blood pressure
- High cholesterol
- Diabetes
- Stroke
There are lots of other conditions which could mean you get more for your money.
You can buy an annuity any time from age 55 (rising to 57 from 2028). Our annuity comparison tool helps you shop around the whole UK open market in minutes.
Do you need a medical examination for an enhanced annuity?
In most cases, you don’t need to go for a medical examination. But some annuity providers might ask your GP for your medical reports depending on your circumstances and health conditions. If you’re a smoker, annuity providers might ask you to take a test to confirm this.
It’s important you give accurate information when you request an enhanced annuity. If you don’t, the annuity rate you’re offered might change or be withdrawn.
Click here to find out how financial advice could support your retirement decisions, and whether it’s the right step for you.
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