Jenna, 57 has raised blood pressure which is controlled with Atenolol and Ramipril. She also has slightly raised cholesterol and takes one Simvastatin tablet daily.
She’d heard that there are annuities that pay more if you’re in poor health, but didn’t imagine that her raised blood pressure and slightly elevated cholesterol would qualify. After all, she feels fine and has never experienced any symptoms whatsoever.
She was surprised to discover from her adviser that she could receive an increased income because of her blood pressure and cholesterol levels. She is aware that it’s now possible to take all her pension savings as cash, but this doesn’t appeal to her. She’s worried about what she’d do with it and how she would manage her income without running out of money. Someone had also told her that only 25% is tax free.
Consequently, she would prefer the reassurance of knowing that she has a guaranteed income for the rest of her life and the discovery that she will receive a higher income because of her health will help make her retirement a little more comfortable financially.