2009 is set to be a bumper year for the sales of enhanced annuities, according to one pension provider. Although quarter three saw a 7% dip in sales of enhanced annuities, overall 2009 has been been very busy with sales of£1.3 billion by the end of quarter 3.
It seems many annuitants, or perhaps more providers, are now getting to grips with the fact that if the client has a medical condition which could effect their life expectancy, they are eligible for higher rates. And with postcodes being used more widely by pension providers, the scope for more impaired life annuities seems likely.
However it is still the case, that despite the increase in enhanced annuities in 2009, the majority of annuitants still fail to shop around for the best deal.
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