If you smoke or have smoked in the pass then you maybe eligible for increase income from your annuity. A smokers annuity can increase your income entitlement significantly, depending on how heavily you smoke and what associated health problem (s) you have incurred or are likely to incur in the future. As mentioned, the amount of additional income will depend on what type of health problems have occurred or are likely to occur as a result of your smoking habit.
However it maybe the case that not all advisers will probe the annuitant in the right way to ensure maximum entitlement is offered. One example which is cited by rightannuity.co.uk shows that merely asking how many cigarettes are smoked a day may not reveal the whole story about an individual’s health. For example, heavy smokers may be taking medication for high blood pressure or be suffering from sleep apnoea (a condition often caused from a prolonged smoking habit). If this is the case these annuitants could be eligible for a higher annual income than a smoker without these associated health problems.
If you are considering or have been offered a smokers annuity, ensure that you state in detail all the relevant information (both passed an present) about your smoking habit including any associated medication or health conditions. A thorough and detailed examination of the effects that smoking has had on you should be done by all advisers but that is not always the case!
