A number of UK retirees could be missing out on additional income by not enquiring about enhanced annuities, according to one expert.
Those missing out on the additional retirement funds could be encouraged to contact Key Retirement Solutions to see how an equity release plan could boost their finances.
According to MGM Advantage, 59 per cent of people aged over 55 years in the UK are unaware that certain medial conditions could see them receive a larger retirement income.
The study showed that despite this number, just one in four people are aware that conditions such as high blood pressure and high cholesterol could see them qualify for an enhanced annuity.
Aston Goodey, sales and marketing director at MGM Advantage, said: “Having a health check before purchasing an annuity is vital and if someone discovers they have a medical condition, it’s really in their best interest to inform their prospective annuity provider.
“To ensure you are getting the best annuity rate possible, you should also exercise the Open Market Option and shop around for the best enhanced annuity rate.”
Homeowners aged over 55 who are interested in receiving a tax-free payment taken from the value of their property can find out how with an equity release guide from Key Retirement Solutions.
Posted by Tom Papworth
