LEEDS, ENGLAND, December 30, 2012 (Press-News.org) According to a recent survey from MGM Assurance, more than 70% of those approaching retirement are missing out on increased annuity payouts because they do not apply for enhanced annuities.
What is an Annuity?
Everyone who is nearing retirement and has either a personal pension or a company money purchase pension scheme will need to purchase a pension annuity when they retire.
Billy Burrows of Better Retirement Group describes an annuity as: "a bet with the insurance company about how long you will live." When buying an annuity, you should therefore shop around to find the best deal (or best "odds") for your personal circumstances and lifestyle.
What is an Enhanced Annuity?
If you have a health condition that may decrease your life expectancy or you are a smoker, you are advised to request an enhanced annuity, which takes into account your shorter life expectancy and therefore offers a higher annuity rate.
Enhanced annuities pay higher incomes for people who smoke, take prescription medication or who have been to hospital recently because of a medical condition. Those who are expected to live longer receive a lower annuity rate (annual pension amount), because the pension is likely to be paid out over a longer period of time. This means that women and those with good health and no pre-existing medical conditions receive lower rates as they are expected to live longer. Women with ill health are therefore advised to declare all their health conditions to ensure they get the best possible rate.
With new EU rules on gender discrimination coming into force this month that mean annuities have already been reduced for the majority of men, those with ill health have even more reason to shop around and ask for enhanced annuities on the grounds of ill health, in order to get the best rate.
Whatever your health or lifestyle, it is always a good idea to thoroughly research the market when buying an annuity to make sure you get the best returns for your pension pot. Customers are advised to use an annuity rates calculator to shop around for the best deals and to seek independent financial advice before committing to any financial products.
More information about annuities, including an annuity rates calculator, visit The Retirement Centre website at: http://theretirementcentre.com/product/annuities
The Retirement Centre is an independent company, designed to help people aged over 50 to make the right financial decisions and enjoy their retirement. To compare annuity rates and find the best deal for your annuity, visit The Retirement Centre website: http://theretirementcentre.com/product/annuities
For more information, call Dominic Fraser-Smith on 0113 320 5595 or email enquiry@theretirementcentre.com
Buying an Annuity: How an Enhanced Annuity Helps Those with Ill Health
What is an enhanced annuity? The Retirement Centre explains how those with ill health can boost their income with an enhanced annuity; and how everyone can save by using an annuity rates calculator and shopping around for the best deal.
2012-12-30
[Attachments] See images for this press release:
ELSE PRESS RELEASES FROM THIS DATE:
New EU Rule Means Unpredictable Future for Insurance & Annuity Rates
2012-12-30
On Friday 21st December, new gender equality rules came into force regarding the calculation of insurance premiums and pension annuity rates. The new rules mean that gender can no longer be taken into account when insurance premiums and annuities are calculated.
Previously, women have paid - on average - lower insurance premiums as statistics show they have fewer car accidents and make fewer insurance claims than men. Women also live longer - on average - so while they have paid less on health and life insurance, they have also received a lower annuity rate as payments ...
Weldon's Jewellers of Dublin Upload New Batch of Engagement Rings
2012-12-30
A new batch of beautiful diamond engagement rings are now in stock at Weldon's of Dublin and have just been uploaded to the Weldon's website.
The engagement rings include an Edwardian style diamond ring with an estimated 0.67caret centre stone and diamond shoulders, and a lovely 0.91carat diamond engagement ring also with pretty diamond set shoulders, and a diamond set collet all on platinum.
Also included in the batch are a white gold, diamond solitaire engagement ring, a yellow gold, diamond engagement ring and a vintage two stone diamond ring circa 1905.
Garret ...
Legal Lines with Locke Meredith: United States Senator, David Vitter, is a Guest
2012-12-30
Vitter is one of two senators representing Louisiana, along with Mary Landreau. Vitter explains that in the Senate, you need sixty of the one hundred votes to get most things passed, while the House of Representatives only requires a simply majority. Forty percent of Louisiana's revenues come from the Federal Government. Senators get together to form groups called caucuses. Vitter founded an immigration caucus called the Border Security and Enforcement First Caucus. These are conservative senators who want to strengthen the borders and strengthen workplace security versus ...
Legal Lines with Locke Meredith: Freddie Pitcher is a Guest
2012-12-30
Judge Pitcher is originally from Baton Rouge, and finished Law School at Southern in 1973. He practiced general law with Judge Ralph Tyson for about 10 years after graduating from Law School. After this, Judge Pitcher became the first African American elected to Baton Rouge City Court, then he was elected to the 19th Judicial District Court, and then was elected to the First Circuit Court of Appeals, without opposition. He was the first African American in Baton Rouge to fill each of these positions. After leaving the City Court, Judge Pitcher was the only African American ...
Rolfe McCollister Explains the Changing Louisiana School System on Legal Lines with Locke Meredith
2012-12-30
Rolfe McCollister, CEO and publisher of the Baton Rouge Business Report and campaign treasurer and transition chairman for Governor Jindal, explained the recently enacted education law, what the laws entail, and the obstacles that impede the evolutionary changes that these laws implement.
Mr. McCollister explained that our historical tenure based, seniority ruled education system from the sixties has failed. The old system promoted seniority, rather than performance. This impeded advancement for hard working teachers and instilled complacency. Furthermore he explained ...
Atlanta Car Services Company, Metro Limo, Advises Booking Your Limos Now for Upcoming Holiday Parties, Airport Pickups and Special Occasions
2012-12-30
Metro Limo wishes to inform its customers to book any Atlanta limo rentals well in advance this holiday season. It is that time of year again when many more people are travelling than normal, which means Atlanta limo companies are being swamped with appointments. It is always a good idea to plan ahead, but this could not bear more truth than during the holiday rush. Atlanta airport shuttle service is a smart choice because the airport is going to be flooded with incoming and outgoing flights, so residents should expect to see an increase in traffic on the streets as well. ...
New Black Box Insurance Site Launches with Unique Offerings
2012-12-30
Black Box Insurance - also known as Telematics Insurance, the UK's new revelation to fair and cheap car insurance for young drivers launched only a few years ago. Since then, there has been a massive increase in popularity for the black box. Black-BoxInsurance.com launched today, offering the new, now affordable type of car insurance aimed especially towards young drivers.
The site includes a comparison table which allows young drivers to acknowledge exactly what they will get from each provider, as a lot are dawned by third party opinions from experience with other ...
Tumor boards linked to little association with effects on cancer care
2012-12-29
There is little association of multidisciplinary tumor boards with measures of use, quality, or survival, and measuring only the presence of tumor boards may not be adequate in determining their effects on cancer care, according to a study published December 28 in the Journal of the National Cancer Institute.
Tumor board reviews offer a multidisciplinary approach to treatment planning, which encompasses doctors from many specialties reviewing and discussing the medical condition and the treatment of patients. Even though the use of tumor boards is widespread, there is ...
Groundbreaking air-cleaner saves polluting industrials
2012-12-29
Industries across Europe are threatened with shutdown as European Union emission rules for Volatile Organic Compounds are tightened. Now an air cleaning invention from the University of Copenhagen has proven its ability to remove these compounds. And in the process they have helped a business in Danish town Aarhus improve relations to angry neighbors.
Inventor, Copenhagen chemist Matthew Johnson, presented evidence for the air cleaning invention at the conference "First International Education Forum on Environment and Energy Science" held on Hawaii December 14 to 18.
In ...
An image gallery gift from NASA's Swift
2012-12-29
Of the three telescopes carried by NASA's Swift satellite, only one captures cosmic light at energies similar to those seen by the human eye. Although small by the standards of ground-based observatories, Swift's Ultraviolet/Optical Telescope (UVOT) plays a critical role in rapidly pinpointing the locations of gamma-ray bursts (GRBs), the brightest explosions in the cosmos.
But as the proxy to the human eye aboard Swift, the UVOT takes some amazing pictures. The Swift team is celebrating eight years of UVOT operations by collecting more than 100 of the instrument's best ...
LAST 30 PRESS RELEASES:
Family-based intervention programs are insufficient to prevent childhood obesity, major study finds
Emotions expressed in real-time barrage comments relate to purchasing intentions and imitative behavior
Your genes could prune your gut bugs and protect you from disease
EMBARGOED MEDIA RELEASE: Breathlessness increases long-term mortality risk, Malawi study finds
Permeable inspection of pharmaceuticals goes in-line
Warming rivers in Alaska threaten Chinook salmon populations and Indigenous food security
New multi-disciplinary approach sheds light on the role of mitochondrial DNA mutations in cancer
Worms reveal just how cramped cells really are
Alzheimer’s disease digital resources lacking for Latinos, Hispanics in Los Angeles years after COVID-19, study finds
Chronic disease deaths decline globally, but progress is slowing
The Lancet: Chronic disease deaths decline globally, but progress is slowing
The Lancet: Parent-focused programs insufficient to prevent obesity in toddlers, finds meta-analysis; authors call for a re-think of childhood obesity prevention approaches
Study sheds light on hurdles faced in transforming NHS healthcare with AI
Astrocytic “brake” that blocks spinal cord repair identified
As farm jobs decline, food industry work holds steady
Kennesaw State researcher aiming to move AI beyond the cloud
Revolutionizing impedance flow cytometry with adjustable microchannel height
Treating opioid addiction in jails improves treatment engagement, reduces overdose deaths and reincarceration
Can’t sleep? Insomnia associated with accelerated brain aging
Study links teacher turnover to higher rates of student suspensions, disciplinary referrals
How harmful bacteria hijack crops
Crowded conditions muddle frogs’ mating choices
A new way to guide light, undeterred
Researchers uncover how COVID-19 may linger in cancer patients and affect treatment outcomes
Tiny metal figurines from Sardinia's Nuragic civilization in around 1,000 BC reveal extensive ancient Mediterranean metal trading networks
Natural microfibers may degrade differently to synthetic materials under simulated sunlight exposure in freshwater and seawater conditions, with implications for how such pollutants affect aquatic lif
Indian new mums report better postpartum wellbeing when their own mum acts as their primary support - while women whose mother-in-law is the primary caregiver instead report significantly lower overal
Young adult intelligence and education are correlated with socioeconomic status in midlife
Traditional and “existential” wellness vary significantly between US regions
Smartwatches detect early signs of PTSD among those watching coverage of the Oct 7 attacks in Israel
[Press-News.org] Buying an Annuity: How an Enhanced Annuity Helps Those with Ill HealthWhat is an enhanced annuity? The Retirement Centre explains how those with ill health can boost their income with an enhanced annuity; and how everyone can save by using an annuity rates calculator and shopping around for the best deal.