Enhanced annuity
There are many different types of annuity[1] that one may purchase on approaching retirement. One such type of annuity is called an enhanced or impaired annuity.
An enhanced / impaired annuity is essentially a conventional annuity that provides a higher level of income to the purchaser. To qualify for an enhanced / impaired annuity, the purchaser’s state of health or medical history must be of such a state that their life expectancy is lower.
There are many conditions that would allow a person to benefit from better annuity quotes including diabetes, cancer and high blood pressure. Even lifestyle choices such as being a regular smoker or being overweight might enable you to get the best annuity quotes through an enhanced annuity purchase. Qualifying conditions could include: diabetes, cancer, high blood pressure, liver condition, heart attack, high cholesterol levels and Parkinson’s disease.