Medical Annuity Quotes Service
Annuity rates are determined by a number of factors one of them your life expectancy - put simply the older you are the less time you are likely to live. Some annuity providers will factor in your current health status into this equation as again if you are in poor health actuarially speaking this will effect your prospects of a long life. You can therefore benefit from your poor health in annuity income terms. Lifestyle factors may also be factored in by some providers e.g. smoking.
The following are some examples of common factors that can affect your received income from a medical annuity:
Generally speaking,annuity providers will be willing to pay an unhealthier policyholder more than a healthy one due to their decreased life expectancy. After all, a healthier customer will require money for a longer and will therefore cost the provider more.
To compare annuities and find the best policy available, it Is recommended to take what is known as the ‘open market option’ whenever possible, as any agreement offered by your pension provider may not necessarily be a policy that is best suited to your needs.
You should shop around to compare annuity plans to find the best quote - use our service below: