Impaired Underwriting - Case Studies
Lesley
Lesley was hospitalised several years ago with a severe brain injury that affected her brain function leaving her with impaired speech and reduced mobility so she is now wheelchair bound.
As a result she requires assistance with most aspects of daily living, such as bathing. In addition Lesley is a smoker, overweight and suffers from high blood pressure and high cholesterol.
With enhanced underwriting based on the above, Lesley’s case could qualify for up to 45% enhancement over a typical annuity rate.
Scenario is based on a female aged 62 with a fund value of £40k. Quoted Single Life, monthly in advance, nil guarantee, level and no Value Protection. Correct as at 26/11/09. Typical annuity rate sourced from The Exchange 26/11/09.
Arthur
Arthur was hospitalised with a stroke four years ago. The condition left him with impaired speech and unable to walk without difficulty so he uses a wheelchair. Consistent with a stroke, Arthur, now aged 65, has high blood pressure, abnormal cholesterol, is susceptible to bladder infections and is on daily medication.
With enhanced underwriting based on these health conditions and severely restricted activities of daily living, Arthur’s case could qualify for up to a 50% enhancement over a typical annuity rate.
Scenario is based on a man aged 65 with a fund value of £40k. Quoted Single Life, monthly in advance, nil guarantee, level and no Value Protection. Correct as at 26/11/09. Typical annuity rate sourced from The Exchange 26/11/09