bonus of heart disease

[GFFF]

Hi all, for those of you looking to start drawing down a personal pension or purchasing an annuity, something you may not be aware of. It seems that having chronic health conditions such as heart disease can be good news. If you are approved for an enhanced payment it could mean up to 30% higher premiums, well worth asking about. The link below explains all and although this is from one insure, all seem to follow the same rules.

legalandgeneral.com/retirem...

[Yumz199725]

Atleast one silver lining to have a chronic illness. Won't have to worry about a pension for ages but it's great to know for future reference. Wow.

[Yogi1950s in reply to Yumz199725]

Do you really mean 30% higher premiums? I don't see that as a silver lining!

If it were a 30% increase in the amount paid out by the pension company to me per month........ Now that would be a silver lining!!

[GFFF in reply to Yogi1950s]

sorry badly worder, 30% higher monthly payments at no extra cost x

[Lonmayloon]

I always have a wry smile when I read that smokers and the obese can claim an enhanced annuity. One could almost be tempted to play the system by having a non-smoking, healthy eating lifestyle while paying in premiums and then switch to smoking and overeating to get a better payout when claiming the annuity.

No…..this is not my advice😀

[1234_6]

Thanks for the info. It isn't something I'd come across before.It would be interesting to see if the purchase prices for an enhanced annuity are very different to a normal annuity. They say they are paying out the same total sum, for both types of annuity, and that it's just over a shorter time period for the enhanced annuity, but cynical as I am I can't believe they wouldn't charge extra for doing that, given that they will have the money for a shorter investment time overall.

[GFFF]

Yes I have the same cynical mindset but waiting for all the numbers to come through before I know for sure. I plan to live to at least 100 just to prove them wrong of course

[Hidden]

Hi GFFF, I remember posting on your retirement thread last year. I was one of the lucky ones, who had my LPGS Pension paid up to pensionable age due to ill health. Have you taken the jump and retired yet?

[GFFF in reply to Hidden]

Hi Heedio, yes I have indeed and feeling so much better for it, no more early morning angina, much more opportunity to be active, great decision, thanks x