Enhanced Annuities Rates

Enhanced Annuities Rates Guide…

In order to get a high annuity rate, it is recommended that you use your Open Market Option, which is basically your option to shop around and compare different annuity providers and their products rather than automatically getting your annuity from your pension provider.

By doing this, you can check if you qualify for enhanced annuities, which can give rates up to 40% higher than those of other types of annuities.

Why Are Enhanced Annuities Rates So High?

There are two major factors which affect annuity rates – economic trends and life expectancy. The former has nothing to do with you and is based solely on movements in the financial market while the latter has everything to do with you – your age, your gender, your lifestyle, your previous occupation and your health.

Enhanced annuities rates are high compared to standard life annuities simply because it is reserved for people who are suffering from medical conditions while the latter is available to just about everyone.

Since calculating annuity rates involves dividing funds over the expected years an investor has to live, those with a shorter life expectancy get higher rates, and naturally, those with a clean bill of health are expected to live longer than those with a compromised state of health.

Based on this same principle, an investor with a moderate medical condition will get higher enhanced annuity rates than someone with just a mild condition, and those with severe or life-threatening conditions will get even higher.

For example, someone suffering from diabetes can have a 3% to 5% higher rate than a standard annuity while someone who has had a kidney transplant or a stroke once can qualify for up to 33% higher.

How To Get The Best Rates

To make sure you get the best enhanced annuities rates, it is recommended that you get the help of a financial adviser.

A financial adviser can assess your financial situation, determining what annuity features you really need, and can also guide you in choosing the most reliable annuity provider.

Furthermore, an annuity adviser can help you fill up the enhanced annuity quotation form or questionnaire, which the basis providers use to determine whether or not you qualify for enhanced annuities, and to decide how much enhanced annuity rates you should get.

The more detailed and comprehensive your answers are, the higher your chances of getting high enhanced annuity rates.

To see if you qualify for an enhanced annuity rate please fill in our free no-obligation annuity form. Indeed, by taking a few seconds to provide us with some information, we can arrange for an annuity adviser to contact you and give you free quotes and advice on how to find the best annuity rates.