Medical Annuity Quotes
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:
Any pre-existing medical conditions
The lifestyle of the retiree (smoking, drinking etc)
Age and medical history
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:
Important Risk Information:
This website contains information only and does not constitute advice or a personal recommendation in any way whatsoever. The value of investments and income from them can fall as well as rise and you may not get back the full amount invested. The tax efficiency of ISAs is based on current tax law and there is no guarantee that tax rules will stay the same in the future.
Different types of investment carry different levels of risk and may not be suitable for all investors. Please ensure that you read the Important Risk Information for further details. Prior to making any decision to invest, you should ensure that you are familiar with the risks associated with a particular investment and should read the product literature. If you are in any doubt as to the suitability of a particular investment, both in respect of its objectives and its risk profile, you should seek independent financial advice.