QUESTION:
Anything else I should know?



ANSWER:
There’s a final, slightly depressing feature to the annuity market that some people can turn to their advantage. It’s that higher rates tend to be paid to annuity buyers that insurance companies deem to be in poor health – the companies take the view that they probably won’t have to pay out to these people for very long. In annuity terms poor health can mean smokers, people with high blood pressure, anyone taking regular medication, suffering from asthma, diabetes or the like. If you fit into any of these categories it is worth asking if you qualify for special, higher income rates when you shop around for the right plan.