annuity 'dis-impairment'

chesky369

I seem to remember that a few months ago, a woman started a thread because, having started an impaired health annuity due to her smoking, she had quit the habit and her annuity supplier wanted to renegotiate the terms. Of course, I've looked for it but can't find it anywhere, so I wanted to check whether or not this might happen.

I'm probably going to give up the weed myself (marginally preferring to eat rather than smoke) and don't want to find myself in the same situation, so if it's likely to happen, I'd rather start on a normal rate.

Anybody any thoughts out there?

dunstonh

If you stop smoking after the annuity commences then you are fine (in most cases). If you have attempted or have stopped smoking in the 10 years prior to annuity commencement, then you should declare that fact on the application (if it was a half hearted attempt that failed then it wouldnt impact. If you succeeded for a couple of years it would).

The thead you are recalling was about the woman who didnt disclose she had attempted to cease smoking in the years previous to commencement.

So, be honest on the application and you will have no problem as they will underwrite you on that basis.