Terminal Cancer

RedDragon22

If an individual has terminal cancer with life expectancy of somewhere between 1 and 6/7 years what sort of impaired life annuity benefit would be possible over and above a standard annuity rate?

Fund of £35k, standard annuity offering £1800 after TFLS taken, so roughly 6.4% rate......but what could an impaired life annuity roughly offer?

Additionally, could the impaired life annuity be taken jointly with individual's wife (in good health)?

Thanks in advance

yelf

depending on the spouse benefit percentage will depend to what extent the annuitants health affects the rate (a 100% spouse benefit means the company will pay out on the spouse's life so may fully disregard the health of the annuitant). 6/7 years health would probably increase annuity payment by up to 3-4 times. However, taking an annuity in such a situation would most likely be very very unwise for obvious reasons. phased retirement may be better for one choice.