GE Life has reported that 40% of people with annuities could benefit from an enhanced version of the post retirement product, yet only 5% of those bought in 2004 had health or lifestyle elements. The company consider that around 125,000 people missed out on extra income in retirement by purchasing a standard annuity, despite being eligible for an enhanced annuity. They believe that as annuity rates have been falling steadily for the last twelve months, it is more important then ever to shop around for the best rate, especially if they are eligible for enhanced annuities.
Our view
We have helped many clients get a bigger pension by finding them one that is higher just because they have a medical condition. If you are nearing retirement and need an annuity, contact us for a FREE consultation.