By Annie Newton
When thinking about an annuity pension plan there are several things to think about. General advantages and disadvantages of an annuity may be useful to consider, however often information regarding application misses out the details regarding enhanced annuity rates. These enhanced annuity rates are designed for those with illnesses and lifestyle conditions that may benefit from a higher income.
There are over 1000 listed illnesses and lifestyle conditions which make an individual eligible for enhance annuity rates. Studies have shown that only approximately 4% of people are claiming the enhanced rates they deserve meaning there is millions of pounds going unclaimed.
The illnesses and lifestyle conditions that are often included for eligibility to enhanced annuity rates are; regular smoking, high blood pressure, high BMI, high cholesterol, heart conditions (such as heart attacks, heart bypass, angioplasty, angina and an irregular heart beat), diabetes, multiple sclerosis, lung, liver or kidney disease and cancers.
When you find yourself with these conditions it can be extremely stressful and the pressures that they can have on your financial future and life expectancy can be high. For this reason the enhanced rates provided by an annuity pension can be a deciding factor in which pension plan to choose. Other advantages that an annuity plan can offer include:
Advantages of a annuity – Complete financial security and peace of mind. You will pay for your investment through premium payments or a lump sum in advance and then be able to enjoy a steady income with no fuss. With the original investment you make being completely up to you, you are able to tailor your monthly income to match your standard of living and ensure you continue living the way you wish to after retirement.
Find out more about enhanced annuity rates.
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Topics: Personal Finance | Comments Off
MLA Style Citation:
Newton, Annie "Elibility For Enhanced Annuity Rates." Elibility For Enhanced Annuity Rates. 24 Jun. 2010. uberarticles.com. 20 Aug 2014 <http://uberarticles.com/finance/personal-finance/elibility-for-enhanced-annuity-rates/>.
APA Style Citation:
Newton, A (2010, June 24). Elibility For Enhanced Annuity Rates. Retrieved August 20, 2014, from http://uberarticles.com/finance/personal-finance/elibility-for-enhanced-annuity-rates/
Chicago Style Citation:
Newton, Annie "Elibility For Enhanced Annuity Rates" uberarticles.com. http://uberarticles.com/finance/personal-finance/elibility-for-enhanced-annuity-rates/
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