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Mr Thompson

Case Study: Mr Thompson

Age: 67
Product: Enhanced Pension Annuity

 

One of the benefits of searching the market with Retirement Line for a better annuity deal, is that we can check if you are entitled to a higher income for life with an enhanced annuity.

Enhanced annuities enable retirees to lock into a more competitive rate, which can equate to potentially thousands of pounds more income in retirement.

86% qualify for a higher income

The great news is that around 86% of the many thousands of enquirers Retirement Line provide quotes for each year qualify for an enhanced annuity by having a qualifying health or lifestyle condition, which can include:

  • Common later-life medical ailments such as high blood pressure, high cholesterol and diabetes
  • A diagnosis of cancer, heart disease or Alzheimer’s (amongst many qualifying conditions)
  • A history of smoking, obesity or a very low BMI

Remember! Very few providers offer enhanced annuities and many do not offer a competitive standard annuity rate. If the pension company who currently holds your fund cannot offer you a better rate based on your health conditions or lifestyle factors, then you could be missing out on thousands of pounds in future income by not shopping around.

One of Retirement Line’s customers was delighted in the summer of 2016 to find out that he was entitled to an enhanced annuity based on his health conditions, despite being a very active English Channel swimmer.

Customer Case Study

Alan, a retired Office Administrator from Essex, explains how Retirement Line found him a higher income than his existing provider could offer him:

“When the time approached for me to take full retirement in July 2016, having the guarantee of a regular lifetime income was essential.”

“Retirement Line was recommended to me, as they don’t charge a fee for their service and can search the market for a competitive income for me, including the companies who you can’t go to directly.”

“I rang Retirement Line to find out how much income I could expect to get from my fund. My consultant, Rick, was very competent and knowledgeable. He explained all my options to me and provided me with all the quotes I needed.”

Due to Alan having to take prescription medication for high blood pressure and Type 2 diabetes, as well as suffering from atrial fibrillation (an irregular heartbeat), Retirement Line’s specialist informed him that he qualified for an enhanced annuity.

This resulted in Alan being offered an income that was 33% higher than what he could obtain from a conventional annuity.

Alan, 67, is a swimmer and has recently achieved a record with an English Channel relay team. They were officially the oldest six-person relay team to complete the gruelling swim.

“As a channel swimmer who regularly enjoys open water swim events, I certainly don’t think of myself as having poor health; my high blood pressure and diabetes are both common conditions in later life.”

“Despite feeling in physically good health, I was pleased to hear I could achieve a higher income for life based on the medical conditions I have.”

“Retirement Line did a splendid job and it worked out very nicely. I would recommend them to anyone approaching retirement!”

Could you be entitled to an enhanced annuity?

Alan’s story proves that even the most active, fit and healthy people at retirement age can still achieve a higher income for life because of common later-life medical conditions.

The problem is that many people could be entering retirement entirely unaware that they have a qualifying medical condition such as high blood pressure or diabetes. It means potentially thousands of retirees every year could be settling for an annuity with their existing provider paying them far less than that provided by an enhanced annuity.

Diabetes, for instance is a health epidemic that is ravaging the NHS. It is believed to cost the NHS £10.3 billion every year, a staggering 10 per cent of their budget. A record four million people live with the condition in the UK, yet more than 500,000 do not know that they have it!*

Check out your entitlement!

Retirement Line highly recommend you have a health check or blood test as you approach retirement so that you can enjoy a higher income for life with an enhanced annuity, if a qualifying condition is identified.

Speak to a specialist

If you are approaching retirement then seeking the assistance of an annuity specialist is vital if you want to find a higher income than what your existing provider is able to offer.

Speak to the Retirement Line team today by calling 0800 652 1352 (or local rate mobile number 01733 307 240).

A free service

Irrespective of how much time we spend assisting you with detailed information and your annuity quotes, there is no charge or any obligation for you to use our service.

If you buy an annuity through ourselves, we will receive commission from your chosen provider which is taken into account in calculating the annuity rate.

Retirement Line work on a non-advised basis, providing factual information to enable you to make your own informed decision.

*Daily Mail Oct 2016

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