Nobody wants to have poor health and stay in a bad shape but some people are unfortunate enough to be struggling with health problems especially when they are at an age where they cannot work and are totally reliant on the investment choices they have made in their earlier life.
More and more people are now aware that you get better annuity rates if your health is poor and even the slightest problems such as having a high blood pressure or diabetes can get you a better annuity rate. You might not be aware of it but you can use your deteriorating health condition or an ailment to your advantage and get a better annuity rate that will provide you with more income after your retirement.
Your health plays a significant role in determining your annuity income and something as little as high blood pressure can have a significant impact on your annuity income. Did you know that over sixty per cent of people residing in the UK that are above the age of 65 years suffer from high cholesterol? Declaring something as little as this could result in an increase of at least a five per cent increase in your annuity income, a lot of times we tend to overlook these details and miss out on potentially great savings opportunities.
Anything or any health condition that can decrease your life expectancy is bound to get you a better annuity rate so it is in your best interest. If you are a smoker, suffer from heart disease or even arthritis then you should declare this in order to get a better annuity rate. Just by declaring these simple things, you have the opportunity to save around £2500 depending on the type of annuity that you select. Keep all these things in mind when getting annuity quotes so you get as much as you are capable of.