Hidden Boost for Enhanced Annuities
July 22nd, 2015
Fairly common and minor health conditions can result in a higher annuity income, says the Mail. Many people qualify for an ‘enhanced annuity’ as a result of having conditions like high blood pressure or diabetes. While someone in perfect health could get an annual income of £5,400 from a £100,000 annuity, someone with one of these conditions could get as much as £6,500 a year.
Insurers have been criticised for failing to tell policyholders with pension plans about the potential benefits of enhanced annuities.