Smoker Annuity Rates
Smoker Annuity Rates Guide…
Did you know that smoking can get you up to 30% higher annuity rates?
Indeed, there is such a thing as smoker annuity rates, which, basically, are a type of enhanced rates that apply to smokers.
This is a good thing for your retirement income, but before you jump up and down – considering it’s probably the only good thing you’ll get from smoking – you should keep in mind that the reason for this increased rate is because studies show that smokers have a shortened life expectancy, which means if you smoke, you are more likely to die sooner than others.
Annuity rates are based largely on life expectancy, since how long you live determines how long the company will have to provide for you. Currently, the average life expectancy in the UK is 79 years old – 77 years for men and 81 years for women.
If you are a smoker, studies show that you can live only up to 65, or 70 at most, depending on your smoking habits.
If you are 60, then, you only have about a decade to live, which is why companies are willing to give you very high rates.
To qualify for a smoker annuity, you have to be smoking at least ten cigarettes per day for the past ten years. Cigars and pipes usually do not qualify.
Smoker annuity rates can also apply to joint-life annuities, taking both the health and smoking habits of the investor and the spouse or financial dependent into consideration.
Enhanced Annuity Rates
Even if you are not smoking, if you are already suffering from cardiovascular and respiratory ailments, you can qualify for enhanced annuity rates, which are even higher than smoker annuity rates.
Here are some of the medical conditions that qualify for an enhanced annuity:
- Acute Respiratory Distress Syndrome
- Alzheimer’s Disease
- Amyotrophic lateral sclerosis
- Angina
- Arrhythmias
- Asbestosis
- Atherosclerosis
- Atrial fibrillation
- Bi-polar Disorder
- Bladder disease
- Brain haemorrhage
- Bronchiectasis
- Cancer
- Cardiomyopathy
- Cerebrovascular – Subarachnoid haemorrhage
- Chronic Asthma
- Chronic Obstructive Pulmonary Disease (COPD)
- Chronic Bronchitis
- Crohn’s disease
- Deep Vein Thrombosis
- Dementia
- Diabetes
- Digestive disorders
- Emphysema
- Endocarditis
- Heart attack
- Heart block
- Heart valve disorders
- Heart rhythm disorders
- Ischemic heart disease
- Kidney disease/Renal failure
- Liver disease
- Lymphoma
- Peripheral vascular disease
- Rheumatic heart disease
- Rheumatoid arthritis
- Schizophrenia
- Sleep apnea
- Stroke
- Tachycardia
- Tuberculosis
- Ulcerative colitis
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