Enhanced annuity and pension income
Deciding what to do with your pension savings will be one of the most important financial decisions you will have to make.
After you retire, the pension benefits you will receive for the rest of your life are determined by those decisions.
It can be complicated - we are here to explain and answer any questions that you may have - what is right for you and your financial dependents. Everyone is different and it is essential you make the right decision for you - especially if you suffer from a specific medical condition or want a specific level of guaranteed income.
Income that is not dependent upon investment returns.
At Nelson Life we offer access to pension income advice and advice on eligibility to an "Enhanced Annuity".
In the UK - as many as 1 in 4 annuities are "Enhanced Annuities".
IMPORTANT - An Enhanced Annuity can/will add extra income to your income in retirement. If you are buying an annuity it is important to check to see if you are eligible.
What is an Enhanced Annuity?
With an Enhanced Annuity, the life assurance provider will assess your health and give you a quote based on your individual health circumstances.
Unlike with traditional insurance applications where medical conditions may go against you, with an Enhanced Annuity if you have an underlying medical condition (or some lifestyle factor such as smoking) the life assurance provider may be able to offer you a better deal.
Examples of conditions that may qualify for an enhancement if you (or a second annuitant) have suffered or are living with a condition or lifestyle that may reduce life expectancy, you may qualify for an enhancement.
The following are examples of the type of lifestyle or health conditions that may qualify for an enhancement:
If you have had any heart conditions in the last five years
If you have been a regular cigarette smoker (10+ per day) for the last 10 years
If you have high blood pressure
If you have been diagnosed with cancer in the last five years
If you have had a stroke in the last ten years resulting in ongoing disability
If you are diabetic – treated with tablets or insulin
If you are overweight
Please note that the above list is not exhaustive. You (or a second annuitant) may be living with a condition that is not mentioned above that will qualify for an enhancement.
How can you find out if you qualify - contact Nelson Life and we can discuss with you - 091 44 11 88.
*These are only some of the more common conditions that can qualify – Terms and conditions apply.
Want to know more? We are available to discuss your options, and we look forward to hearing from you.
Our job is to help you choose a product and structure that will help you meet your goals.
telephone | 091441188 and/or email | office@nelsonlife.ie
RETIREMENT & PENSIONS | INVESTMENTS | FINANCIAL PLANNING | LIFE INSURANCE
Nelson Life Limited trading as Nelson Life is regulated by the Central Bank of Ireland.
WARNING: Past performance is not a reliable guide to future performance. WARNING: The value of your investment may go down as well as up. WARNING: You may lose some or all of the money you invest. WARNING: These funds may be affected by changes in currency exchange rates. WARNING: If you invest into this product you will have access until you retire (Pension Products). WARNING: The above content does not constitute investment advice, as it does not take into account the investment objectives, knowledge and experience of financial situation of any particular person. Prospective investors are advised to make their own assessment of the information contained herein and to obtain professional advice suitable to their own individual circumstances. WARNING: The information contained in this document is based on our understanding of current tax legislation and the current Revenue Commissioners interpretation thereof and is subject to change including retrospectively without notice. This is intended as a general guide only and is not a substitute for professional tax, legal and investment advice.