Annuity Buying

Qyburn

FrugalFredi said:

You only get asked the more detailed medical questions if you answer "Yes" to any of the initial four medical questions.  If you answer them all "No", it proceeds to the quotes.

Thanks, but the first four questions are height, weight, waist size and units of alcohol. Answering "No" to all yes/no questions it still won't proceed without all the other details.

Johnnyy_Boy

Just be less truthful on your phone number. I regularly get quotes and always with an email after that “we tried to call you”. 

wjr4

Qyburn said:

I couldn't get an answer out of that site without some pages of medical questions.  Is there an option other than the "Get started" button on that page?  Hargreaves Lansdown let's you skip the medical questions on their quoting tool.

Why would you not put your medical info in? 

westv

wjr4 said:

Qyburn said:

I couldn't get an answer out of that site without some pages of medical questions.  Is there an option other than the "Get started" button on that page?  Hargreaves Lansdown let's you skip the medical questions on their quoting tool.

Why would you not put your medical info in? 

Or, as I suggested a few posts ago, just make something up around th e average, just so it shows average results.

ian16527

Legal & General have an easy to use website which you can play around with the options.

Hargreaves Lansdown have a similar quote system which also quotes L&G.

There is no call backs from these two, HL will send you the quotes to email and L&G will allow you to save them.

The more info you input, the more accurate the quote will be. 

I have just tried a IFA and they want a pot value over £130k value before looking at it.

Theres a youtube video from Chris Bourne recently which is worth a watch

dunstonh

I have just tried a IFA and they want a pot value over £130k value before looking at it.

It is fairly common for IFAs to have a minimum.  £50k is fairly typical as a minimum for general practitioner IFAs but wealth management IFAs tend to be higher and less interested in transactional work (unless its higher value)

LV_426

westv said:

wjr4 said:

Qyburn said:

I couldn't get an answer out of that site without some pages of medical questions.  Is there an option other than the "Get started" button on that page?  Hargreaves Lansdown let's you skip the medical questions on their quoting tool.

Why would you not put your medical info in? 

Or, as I suggested a few posts ago, just make something up around th e average, just so it shows average results.

What happens if you lie and say you're a smoker, to get a better annuity rate?

Qyburn

wjr4 said:

Qyburn said:

I couldn't get an answer out of that site without some pages of medical questions.  Is there an option other than the "Get started" button on that page?  Hargreaves Lansdown let's you skip the medical questions on their quoting tool.

Why would you not put your medical info in? 

Not for privacy reasons, but just because there eighteen questions, some of which I can't answer off the top of my head anyway. It seems a waste of time when just trying to get a rough idea.

dunstonh

LV_426 said:

westv said:

wjr4 said:

Qyburn said:

I couldn't get an answer out of that site without some pages of medical questions.  Is there an option other than the "Get started" button on that page?  Hargreaves Lansdown let's you skip the medical questions on their quoting tool.

Why would you not put your medical info in? 

Or, as I suggested a few posts ago, just make something up around th e average, just so it shows average results.

What happens if you lie and say you're a smoker, to get a better annuity rate?

They sample check some applications with a cotinine test.  Get caught on that one and you end up on the fraud registers for the rest of your life.  Your car and household premiums will go through the roof.    And on death, if the death certificate shows death to a smoking related disease, they can claim back the amount overpaid from the estate.

[Deleted User]

dunstonh said:

LV_426 said:

westv said:

wjr4 said:

Qyburn said:

I couldn't get an answer out of that site without some pages of medical questions.  Is there an option other than the "Get started" button on that page?  Hargreaves Lansdown let's you skip the medical questions on their quoting tool.

Why would you not put your medical info in? 

Or, as I suggested a few posts ago, just make something up around th e average, just so it shows average results.

What happens if you lie and say you're a smoker, to get a better annuity rate?

   And on death, if the death certificate shows death to a smoking related disease, they can claim back the amount overpaid from the estate.

Curious why anyone would falsely claim to be a non-smoker on an annuity application.  And how exactly could the provider  “overpay” if the recipient were to die early. Are we talking about annuities or a life insurance product?