Personalised GIfL Solutions through underwriting

Many people don’t realise that they don’t have to be ‘ill’ to be able to improve the rate provided by a Guaranteed Income for Life (GIfL) solution.

Underwriting techniques have moved on, to the point that there isn’t really a ‘qualification’ line anymore, and the days of ‘standard’ and ‘enhanced’ annuities are moving into the past.

Personalised GIfL means using personal and lifestyle information as well as medical conditions to create a picture of the client’s individual circumstances, and tailor an income that is bespoke to them.



Everyone is different*

As we can see in the chart above, no one needs to settle for a ‘standard’ rate, and even details such as a person’s height and weight, alcohol intake, marital status, and where they live can make a difference.

The following examples, which are for illustration purposes only, help give some idea of the effect that underwriting can have:


Laura feels pretty good health wise and hasn’t been to the doctors for as long as she can remember. She doesn’t take any tablets for any health conditions, and looks after herself with exercise and healthy eating. Laura would be able to get an income equivalent to 6.57% pa.


Brian is feeling well and doesn’t have any health issues. He drinks slightly more than he’d ideally like to but doesn’t smoke or take any medication. He would be able to achieve an income of 6.89% pa.


Graham’s health is generally okay, but not brilliant. He’s really pleased that he’s given up smoking and manages his Type 2 diabetes with medication that he takes every day. Graham’s health and lifestyle mean that he would be able to get a GIfL income equivalent to 7.47% pa.


Pamela’s health is suffering, but she feels that it is mostly under control. She's still active and feels happier about things now that she has stopped smoking. Pamela manages her high blood pressure with medication, she was hospitalised three years ago following a seizure that resulted in a fall and has since been diagnosed with epilepsy which is managed with medication. With personalised underwriting, Pamela’s GIfL income would be equivalent to 8.19% pa.


Margaret is struggling as a result of a more serious condition such as Parkinsons that is impacting on her activities of daily living. She spent some time in hospital related to this condition two years ago and continues to take medication. Because of this, Margaret is able to get a GIfL income rate equivalent to 8.76% pa.


Richard was diagnosed with Stage 2 lung cancer four years ago, he underwent chemotherapy and radiotherapy, and lives life circumspectly, taking it a day at a time. Richard’s GIfL income rate is equivalent to 10.55% pa.


Accessing underwriting for your client

There are different ways of obtaining information for your clients. The most comprehensive and widely accepted is the Retirement Health Form (RHF). This enables personal and lifestyle details to be gathered, as well as relevant medical information where applicable.

In addition, the RHF declaration allows the client to provide their consent for their information to be used as part of the Information Prompts requirements.

Underwriting information can also be gathered using quote portals.

Retirement Health Form

Online Portal

The form can be downloaded here:

Enter client’s quote details and full health information into your portal of choice.

Complete ‘Personal Details’ and ‘Medical Assessment’ sections, and any medical conditions pages as required.

Hint: Ask if the client is happy to provide a copy of their prescription - This can provide exact names of medications and dosages

Quotes are provided instantly

Hint: Don’t click ‘don’t know’; the portals could make assumptions that provide inaccurate figures

Hint: Complete ‘lifestyle’ details, or some providers could be excluded from the search

Submit to providers – most will respond within 24hrs

Be aware if the rate is ‘indicative’ rather than guaranteed. This might require contacting providers directly for more accurate quotes.

Any requirements to clarify information provided, possibly by the client’s GP will be confirmed.


Don’t forget - for GIfL cases with dependant benefits such as a spouses income, include their personal, lifestyle and medical information too, as their rate can also be impacted.

*Illustrations based on an individual aged 65, with a £50,000 pension fund.

Excellent - no health issues - ideal health.

Good - no health issues – alcohol intake at top end of regular recommended maximum.

Reasonable - ex-smoker, diagnosed with Type 2 diabetes nine years ago, takes one medication daily, no complications.

Coping - ex-smoker, alcohol intake at top end of regular recommended maximum, high blood pressure takes one medication daily, diagnosed with epilepsy three years ago, takes one medication daily, hospitalised three years ago.

Challenging - diagnosed with Parkinsons disease nine years ago, takes one medication daily, hospitalised two years ago, Activities of Daily Living (ADLs) affected.

Critical – diagnosed with Stage 2 lung cancer four years ago, takes one medication daily, underwent chemotherapy and radiotherapy.


A facilitated adviser charge of 2% has been assumed. Rates offered from Just on 7 May 2024.