Some annuity providers offer annuities that provide a higher-than-normal income if you are in poor health and one that may reduce your lifespan.

These are called impaired life annuities. Relevant health problems include but are not limited to:

• Cancer,
• Chronic asthma
• Diabetes
• Heart attack
• High blood pressure
• Kidney Failure
• Multiple Sclerosis 
• stroke.
• Overweight
• Smoker

Higher rates are sometimes available to proposers from certain certain occupations or who live in certain areas of the country you can see therefore why shopping around getting comparisons is essential.

If you are in poor health then this will be a factor among others that will be taken into consideration by your adviser when obtaining quotation.  If this is a Pension Annuity under an OMO (Open Market Option) it is quite possible that you could increase your pension income by a substantial amount.

Not enough people look at their options on retirement and the FSA have been encouraging and educating the consumer to look at their options when it comes to annuities.

It can be a complex matter and we would strongly recommend you get an IFA ( Independent Financial Adviser) to look at your options and discuss an explain the factors involved.

You can read more about annuities and Open Market Options here.