The Hidden Majority?

Recent research undertaken by Just Retirement on lifestyle changes and medical issues shows it is now estimated that between 55% and 65% of people retiring could have a condition that might qualify for an enhanced annuity and obtain a much needed boost to their income in retirement.

Recent advances in the accuracy of medical underwriting have enabled a ‘widening’ of the conditions that might qualify for an enhancement. Just Retirement’s research shows that more people than ever could benefit from an enhancement to their income in retirement. Also combinations of medical conditions and lifestyle issues are now taken into account in far greater detail.

Recent research undertaken by Just Retirement on lifestyle changes and medical issues shows it is now estimated that between 55% and 65% of people retiring could have a condition that might qualify for an enhanced annuity and obtain a much needed boost to their income in retirement.

Recent advances in the accuracy of medical underwriting have enabled a ‘widening’ of the conditions that might qualify for an enhancement. Just Retirement’s research shows that more people than ever could benefit from an enhancement to their income in retirement. Also combinations of medical conditions and lifestyle issues are now taken into account in far greater detail.

If you have any severe medical conditions, you may already be aware that you could be entitled to an increase in income during your retirement years, but what of the conditions and lifestyle factors that are often overlooked? Just how many people fall into this category? Remember it does not necessarily have to be you who have the medical issue or lifestyle factor. If you want a pension for your spouse in the event of your death, then an enhancement can also be provided if he or she has a qualifying condition.

Lifestyle factors such as smoking, high alcohol consumption and being overweight can all be taken into consideration and will sometimes qualify on their own. Coupled with former/current occupation and post code regions, the list of acceptability for an enhancement continues to grow. Also many conditions that have been previously overlooked can now qualify for an enhanced annuity either separately, or in combination with other issues. There is now significant new evidence for medical conditions that have previously not been considered when evaluating whether someone can obtain an enhanced annuity. Conditions such as Diabetes, Asthma, Depression, Dementia and many more can all be eligible for enhanced terms (although not always independently) and this evidence shows that the majority of retirees may have conditions that could qualify.

If you are about to retire, it is vital you get the best advice you can on this issue as any increase in income will last for life, so if your popping a pill a day make sure you declare it!

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