Enhanced annuities are also called impaired annuities.
When calculating how much lump sum premium is needed to provide a given income for your lifetime, insurance companies use actuarial tables. These tables are based on age, sex and health. If your life expectancy is much lower based on a health impairment for example you could apply for an enhanced annuity. If approved your level of income would be higher. That is a simple explanation of a potentially complex subject.
If you have further questions, or feel that I could be of assistance, please do not hesitate to contact me.
If you would like to work with a local life insurance broker, you could start with a Google search. For example, if you search for: life insurance broker Halifax or life insurance agent Halifax, my name, along with several others, will come up. You can use the same method to find a life insurance broker in your community.
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When calculating how much lump sum premium is needed to provide a given income for your lifetime, insurance companies use actuarial tables. These tables are based on age, sex and health. If your life expectancy is much lower based on a health impairment for example you could apply for an enhanced annuity. If approved your level of income would be higher. That is a simple explanation of a potentially complex subject.
If you have further questions, or feel that I could be of assistance, please do not hesitate to contact me.
If you would like to work with a local life insurance broker, you could start with a Google search. For example, if you search for: life insurance broker Halifax or life insurance agent Halifax, my name, along with several others, will come up. You can use the same method to find a life insurance broker in your community.