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Annuity Buying

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Comments

  • LV_426
    LV_426 Posts: 513 Forumite
    Fourth Anniversary 100 Posts Name Dropper
    Well the take away here is that you shouldn't lie about smoking habits for the purposes of getting an annuity.
  • Albermarle
    Albermarle Posts: 31,044 Forumite
    10,000 Posts Seventh Anniversary Name Dropper
    LV_426 said:
    Well the take away here is that you shouldn't lie about smoking habits for the purposes of getting an annuity.
    What about drinking habits   :)
  • dunstonh
    dunstonh Posts: 121,223 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    cobson said:
    dunstonh said:
    westv said:
    The final sentence makes perfect sense to me as it is.
    No, it shouldnt have had just the bit on the cotinine test and future checks on GP records.
    err, shouldn't that be should ?  :)
    Indeed it should  (or is that shouldn't ;) )
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • LV_426
    LV_426 Posts: 513 Forumite
    Fourth Anniversary 100 Posts Name Dropper
    Albermarle said:
    LV_426 said:
    Well the take away here is that you shouldn't lie about smoking habits for the purposes of getting an annuity.
    What about drinking habits   :)

    Haha! I'd guess they don't care about that one. However you've got me wondering if I should reveal the fact that I'm teetotal.

  • dunstonh
    dunstonh Posts: 121,223 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    You could also get yourself a temporary address in Glasgow if you want to improve your annuity rate.  And maybe take on a short term job doing shifts (or other higher risk job) for the year before the annuity purchase.       These would help increase the annuity rate.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • DE_612183
    DE_612183 Posts: 4,203 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    Do they ask about / take into account age?

    I'm 58, my dad died at 59 and my brother 63 ( both alcohol related ) - I don't drink too much but I do like a pint!

  • [Deleted User]
    [Deleted User] Posts: 0 Newbie
    1,000 Posts Third Anniversary Name Dropper
    DE_612183 said:
    Do they ask about / take into account age?

    I'm 58, my dad died at 59 and my brother 63 ( both alcohol related ) - I don't drink too much but I do like a pint!

    “Humour”?
  • LV_426
    LV_426 Posts: 513 Forumite
    Fourth Anniversary 100 Posts Name Dropper
    DE_612183 said:
    Do they ask about / take into account age?

    I'm 58, my dad died at 59 and my brother 63 ( both alcohol related ) - I don't drink too much but I do like a pint!


    For something that pays out for the remainder of your life, age is very much a primary factor in this.
    Not sure if they consider family medical history. Probably not I guess. 
    But having not been through the process of applying for an annuity, and unlikely to, I'm not familiar with the details they require.

  • wjr4
    wjr4 Posts: 1,356 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    DE_612183 said:
    Do they ask about / take into account age?

    I'm 58, my dad died at 59 and my brother 63 ( both alcohol related ) - I don't drink too much but I do like a pint!

    Of course they do, age is one of the most important factors. They will not care about anyone else’s alcohol intake apart from your own (and your spouse/partner if they drink heavily and you want a joint life annuity). 
    I am an Independent Financial Adviser (IFA). Any posts on here are for information and discussion purposes only and should not be seen as financial advice.
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