Annuities

Designed for those who don't have a clean bill of health, this annuity pays a higher income for the rest of your life, depending on a range of conditions covered.

• You can receive your pension income either monthly, quarterly, half-yearly or yearly
• You can choose an income that stays at the same level or increases each year either by a fixed percentage or in line with inflation
• Talk to your adviser and find out how to apply for an Enhanced Pension Annuity

A higher income if you don't have perfect health

Our Enhanced Pension Annuity pays a higher income if you have (or have previously had) one of a range of medical or lifestyle conditions affecting your health and longevity.

What is our Enhanced Pension Annuity?

It's a retirement income that's designed to suit people who don't have a perfect bill of health. It could pay you a higher income if you have (or have previously had) cancer, a heart attack, diabetes or many other conditions affecting your health.

We also take some lifestyle conditions into consideration - these are factors that can affect your health like high blood pressure, high cholesterol, obesity and smoking. Even if you are perfectly healthy, you could still benefit from an Enhanced Pension Annuity if your spouse, civil partner or dependant has one of the conditions covered and you want to include them in your annuity.

You buy an Enhanced Pension Annuity with your pension fund. The minimum amount you'll need to buy this annuity is £10,000, after you've taken any tax-free cash.

Which conditions are covered?

This depends on the stage and severity of the condition, but you can see a general list of the conditions normally covered. If you're not sure whether something would be covered, you should speak to a financial adviser for more information.

What are the options?

The options you choose will affect the amount of pension income you'll get. You can get a personalised illustration so that you can see the difference the various options make to your pension income. Find out more about the different options available.

What are the benefits?

• Guaranteed income. It promises to pay you a regular income for life, so its a low-risk option.
• Income choice. Your pension income can be paid monthly, quarterly, half-yearly or yearly, either ‘in advance' (this means that payment of your pension income will be from the start date) or ‘in arrears' (payment will be from one month, quarter, half-year or year after the start date, depending on your chosen payment frequency).
• Clear charges. Our charges for setting up and running your plan are taken into account when we work out your pension income. No further charges will be taken.

Things to think about

• Cash-in value. Once you've bought your annuity, it has no cash-in value at any time.
• Your annuity ends when you die. This means that you may not receive your money's worth from your annuity if you die soon after taking it out.
• Changing your plan. The options you choose at the start of your plan can't be changed.

Other useful information

• Find the answers to some frequently asked questions
• Download our plan information guides

How to apply

If you think that our Enhanced Pension Annuity is right for you, find out more about how to apply. If you need help deciding which annuity or options are most suitable for you, you can call one of our advisers or talk it over with your own financial adviser. You can find an adviser in your area at www.unbiased.co.uk

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