When it comes to buying your pension annuity you should shop around the open market to find the best annuity rates, when you do you may be in for a surprise if you qualify for enhanced annuities.
These annuities are for those that have lifestyle habits or health issues that affect life expectancy.
Because annuity companies have to pay for pension annuity for the rest of your life, the longer you live the more they have to pay out, so it makes sense for them to reward those in poor health with higher payments over a shorter period.
The annuities can very often be as much as forty percent higher than normal standard rate annuities.
So if you smoke more than manufactured cigarettes per day or eighty-five grams of tobacco you could be in for a retirement surprise with around fifteen to twenty percent increase in retirement income.
At the same time if you have high blood pressure and high cholesterol then again you could qualify for annuity rates and get higher annuity rates.
One problem with retirement is that millions of those that retire each year do not know about the annuities and just sign the paperwork they have received from the pension company they saved with, this is very dangerous and you have a legal right to shop around and you should take it.
Many reports now indicate that as many as sixty percent of those who buy an annuity could qualify for enhanced annuities, this has been based on the fact that there are as many as five thousand medical conditions that qualify on their own or in combination for higher annuity rates.
Claiming these higher annuity rates is very simple and quick, you just need to complete a medical questionnaire with your annuity broker and they will submit it to all the providers that issue enhanced annuity rates.
Once all the providers give you a quote you just accept the highest one as simple as that.