If you have smoked 10 or more cigarettes a day for the last decade then it is likely that you qualify for what are known as smoker annuities. The reason why you should choose a smokers annuity is that it will be eligible for enhanced annuity rates, meaning you’ll get a higher annual income compared to a conventional annuity. In fact, you could increase your annual income by up to one fifth!
So if you feel you match the criteria for a smoker annuity, speak to your pension provider to see if they offer annuities for smokers. Or alternatively you can exercise the open market option and shop around for the best smoker annuity scheme on the market. Beware that the annuity provider may ask for verification from a G.P that you are a smoker or ask you to complete a medical questionnaire.
To compare all smoker annuities, complete our online form now.
