At annuity time most people are considering how they are going to turn their saved pension fund into a reliable income for the remainder of their lives, and for many people this can often be a somewhat stressful decision. Although there are a so many annuity options on the market, for anyone who is suffering from a pre-existing medical condition, or perhaps that has led poor lifestyle habits, there is the option to look at an enhanced annuity which can provide an additional income.
Widely available on the market, enhanced annuities are provided by a wide range of annuity providers and can be easily tailored to meet your needs. People often make the mistake of not realising that they are entitled to an enhanced annuity and this can lead to them overlooking the potential benefits of an annuity of this type.
In general, if you have a lower life expectancy then there are a number of different ways that enhanced annuities are able to work for you and they can potentially make you eligible for a higher income given that it will generally be paid over a shorter period. You could be looking to receive a shorter pay over a longer period of time if you have a higher life expectancy and may therefore not be eligible for an enhanced annuity.
In order to be eligible to qualify for an enhanced annuity you must be able to prove that you would have a shorter life expectancy than that of a person who would generally apply for a regular annuity and in many cases this means providing medical evidence of any on-going health conditions or poor lifestyle habits.
You may find that you are eligible to receive a substantially larger annuity than you first thought if you do qualify for an enhanced annuity and this can often be a great deal larger than what you would get with traditional annuities - so it's definitely worth considering this as a viable option.
Widely available on the market, enhanced annuities are provided by a wide range of annuity providers and can be easily tailored to meet your needs. People often make the mistake of not realising that they are entitled to an enhanced annuity and this can lead to them overlooking the potential benefits of an annuity of this type.
In general, if you have a lower life expectancy then there are a number of different ways that enhanced annuities are able to work for you and they can potentially make you eligible for a higher income given that it will generally be paid over a shorter period. You could be looking to receive a shorter pay over a longer period of time if you have a higher life expectancy and may therefore not be eligible for an enhanced annuity.
In order to be eligible to qualify for an enhanced annuity you must be able to prove that you would have a shorter life expectancy than that of a person who would generally apply for a regular annuity and in many cases this means providing medical evidence of any on-going health conditions or poor lifestyle habits.
You may find that you are eligible to receive a substantially larger annuity than you first thought if you do qualify for an enhanced annuity and this can often be a great deal larger than what you would get with traditional annuities - so it's definitely worth considering this as a viable option.
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