annuity rates 2012Annuity Rates 2012 provides you with a lifetime of regular income in exchange for your pension fund. Up until April 2011, annuities were compulsory over the age of 75 years, and many people would purchase them much before, since they are a tried and tested retirement plan. While not compulsory now, purchasing pension annuity rates 2012 is still part of most people’s retirement plan.

For the longest of time, annuities were preferred because they paid out lifetime regular incomes at attractive rates. Annuities were also largely customisable since they came in different types to suit different people. However, the last 15 years annuity rates have remained more or less stagnant or reduced. This has prompted many people to look for enhanced annuity rates 2012.

An enhanced annuity pays out a higher income than other annuities if you qualify as an individual suffering from a health condition that could reduce your lifespan. The rationale behind this is that the providers will not be paying you for a long time, and hence can afford to pay you more than they pay others. And thanks to our lifestyles, most retirees find themselves qualifying for enhanced annuities.

Thus, if you smoke, are overweight, have a chronic condition like diabetes, cardio-respiratory problems or others, you should check with providers in the open market to see if you qualify. Some providers even pay out if you’ve been in specific jobs that compromised your health or if you live in a place that lowers your expectancy. Therefore, performing a thorough check is important, since it will help you get a higher income for the remainder of your years.