Enhanced & Impaired Annuities
Enhanced and impaired annuities are types of lifetime annuity that provide a secure and regular income for the rest of your life. They take into account certain health and lifestyle problems, and those qualifying can be eligible for a higher income – up to 30% in some cases.
Enhanced annuities are available for lifestyle factors such as being a heavy smoker or overweight. Impaired annuities are available for those with a qualifying medical condition that may reduce life expectancy. The list of conditions accepted is extensive, but includes serious illnesses, such as cancer or heart attacks.
Find out more about annuities.
Why choose an enhanced or impaired annuity?
Eligibility for an enhanced or impaired annuity means you receive a higher income than you would from a straightforward annuity. Applicable conditions vary with insurance company but typically include;
For an enhanced annuity:
- Smoking, obesity, high cholesterol, hypertension, high blood pressure and diabetes mellitus
For an impaired annuity:
- Heart attacks, heart surgery or angina, life threatening cancers, chronic asthma, major organ diseases e.g. liver or kidneys, Parkinson's, multiple sclerosis or stroke
The main benefit of an enhanced or impaired annuity is the extra income they can give you in retirement. In many cases they can add up to 30% more to your income.
- You need to think carefully before purchasing an enhanced or impaired annuity and be confident it is the most suitable way for you to take your retirement income. If you are unsure, call the TQ Invest team who will be able to guide you through the options.
- The income you receive is set, unless you opt for an inflation- linked annuity which will rise annually with the cost of living. You need to be sure you don’t want the flexibility to change the way you take your income further into your retirement.
- Your pension dies with you, unless you choose to build in death benefits for a partner to continue to provide them with a smaller income. This means that there will be no 'inheritance' from your pension, irrespective of when you die.
Choose TQ Invest to buy your Impaired or Enhanced Annuity because:
- There is no fee to use the TQ Invest Annuity Service, either to get a quote or for us to handle the administration of your annuity
- You could receive more income than your pension provider is offering
- You can get an annuity quote over the phone within a few minutes
- Our helpful and knowledgeable staff can guide you through the process
- We will organise and process all the paperwork for you
To find out what TQ Invest can offer you, get a quote
Next steps
- Call us on
0800 294 7221 - Our team will provide quotes from the whole of the annuity market.
- When you are ready we will process the application for you - it's as easy as that!
Other annuity options available to you:
Our trusted providers
We choose providers we believe provide the best value. Here are some of our trusted providers:
Need help?
Call our team at TQ Invest on 0800 294 7221 to discuss your options or read some of the annuity FAQs.