An Impaired Life Annuity pays out more than an ordinary annuity, because the Insurer accepts negative health issues affect its judgment of your life expectancy. You do not need to have suffered a heart attack or been diagnosed with cancer to get an impaired life annuity. Insurers have compiled statistics that if you smoke, your life expectancy is lower than a healthy person who doesn’t. Other examples are a proven history of high blood pressure or high cholesterol.
Many people who qualify for an impaired life annuity do not receive the best income in retirement, because either they do not shop around or their health facts are not communicated effectively to the annuity company. What may not be obvious to a client will be identified by the independent financial advisors at Wexdon to give us the edge in finding you the best annuity pay out. We have experience in squeezing the maximum payment from annuity companies.
Every retiree who has chosen an annuity as a full solution or as part of a solution with income drawdown or temporary annuities should have thoroughly investigated if they qualify for an impaired life annuity. In extreme cases the pay-out per month or quarter could be as much as 40%. When you book your free initial appointment we will explain and discuss what strategies are right for you and your family. Other options such as income drawdown or a temporary annuity may be suitable or form part of your retirement income strategy.
Many people are unaware that you can purchase more than one annuity contract when you decide to draw an income from your pension savings. With high levels of inflation we have experienced over the past few years we advise our clients to get a quotation for impaired life annuity which increases with inflation.
Our initial appointment is free of charge – no matter how long it takes. Our annuity search is free of charge. We are happy to meet at your home or office. Taking a little bit of time now can improve your standard of living in retirement quite substantially, especially if you qualify for an impaired life annuity. Call us now to book an appointment to start the process. It is your first step to a better retirement.