Smoker Annuity Rates
If you are a smoker and have been smoking for at least 10 years this will have an effect on your life expectancy that annuity companies estimate when they calculate your annuity rate. Smoking and other lifestyle and medical conditions such as high blood pressure, raised cholesterol, weight, diabetes and heart disease all have an impact on the annuity rates that will be offered by annuity providers.
Smoker annuity rates are also known as enhanced annuity rates and can provide you with a much higher annuity rate and therefore income in retirement than a traditional annuity. When you come to retirement it is important that you do not automatically select the offer your existing pension company offers you and use your open market option which allows you to search the whole of the market to get the best smoker annuity rates for your circumstances.
If you are a smoker or in bad health it makes sense to seek financial advice as an adviser will be able to tell you if you would be eligible for an enhanced rate and they will find the best option for you. A financial adviser will help you complete a heath and lifestyle questionnaire and also get the necessary letters from your GP to confirm your medical history. It is important to mention all your health issues as they may all have an impact on the rates that an annuity company will offer you.
Contact us today by completing the contact form or call us on 0117 9730544. You only get one chance to buy an annuity, make sure you get the best smoker annuity rates.