Smokers Annuity

An Enhanced Annuity for Smokers

By Ivon T Hughes
enhanced smoker annuity
Figure 1. Enhanced Smoker Annuity

What is an enhanced annuity?

An enhanced annuity may be issued when a client submits a medical report stating that he or she has a reduced life expectancy due to illness.

In addition to the illnesses that you might expect like cancer, stroke or heart attack, now some companies are offering enhanced or higher payment annuities for smokers who meet certain guidelines.

How do you apply for an enhanced annuity?

Along with your application, you submit a short medical report outlining the medial problem and prognosis. No medical exam is necessary.

What are the advantages of an Enhanced Annuity?

  • Guaranteed periodic income
  • Higher payments than a conventional annuity
  • Worry-free money management
  • Shelter from market fluctuations
  • Protection from Assuris against the financial failure of the life insurance company

What are the heath impairments that may qualify for an enhanced annuity?

  • Cerebral vascular accident (stroke)
  • Myocardial infarction (heart attack)
  • Multiple Sclerosis (M.S.)
  • Dementia/Alzheimer's disease
  • Paraplegia
  • Cancer
  • Parkinson’s disease
  • Diabetes
  • Aortic aneurysm
  • Emphysema
  • Cirrhosis of the liver

Ordinary Annuity versus Enhanced Annuity

Recently a 70 year old male received an enhanced annuity quote for his $100,000 capital. About $100 more a month than an ordinary annuity quote.

His ordinary annuity annuity rate qualified him for $545.84 a month but the enhanced annuity rate guaranteed him $644.25

This extra $98.41 a month or 18% more income made it very worthwhile for him to file a medical report.

Is proof required to be obtain a smoker annuity?

Yes, a urine sample is required. Your smoker status must be confirmed by the presence of more than 1.0 μg/ml of cotinine (nicotine) contained in a urine sample.

An Enhanced Annuity is also known as:

  • Essential Care Annuity
  • Impaired Annuity
  • Age Rated Annuity
  • Adapted Annuity
  • Accelerated Annuity
  • Smoker Annuity

What are the best annuity rates for a male smoker?

The following regular and enhanced annuity rates are based on a male annuitant with $100,000 of registered funds with no guarantee. The enhanced annuity rates show what you would receive if you were rated 3 years older.

Male Enhanced Annuity Rates

Male Age Regular Annuity Rates
(Monthly Income)
Enhanced Annuity Rates
(Monthly Income)
60 $456.13 $489.88
61 $467.69 $500.56
62 $476.65 $512.33
63 $489.88 $528.55
64 $500.56 $542.39
65 $512.33 $560.92
66 $528.55 $577.71
67 $542.39 $599.45
68 $560.92 $619.82
69 $577.71 $645.62
70 $599.45 $670.35
71 $619.82 $697.61
72 $645.62 $727.80
73 $670.35 $760.74
74 $697.61 $793.84
75 $727.80 $830.21
76 $760.74 $873.60

What are the best annuity rates for a female smoker?

The following regular and enahcned annuity rates are based on a female annuitant with $100,000 of registered funds with no guarantee. The enhanced annuity rates show what you would receive if you were rated 3 years older.

Female Enhanced Annuity Rates

Female Age Regular Annuity Rates
(Monthly Income)
Enhanced Annuity Rates
(Monthly Income)
60 $424.37 $450.36
61 $433.52 $458.10
62 $439.92 $466.69
63 $450.36 $479.45
64 $458.10 $489.79
65 $466.69 $501.24
66 $479.45 $517.18
67 $489.79 $531.11
68 $501.24 $549.86
69 $517.18 $566.96
70 $531.11 $589.13
71 $549.86 $609.94
72 $566.96 $636.25
73 $589.13 $661.68
74 $609.94 $689.75
75 $636.25 $717.51
76 $661.68 $752.08
Ivon T Hughes

About the Author

Ivon T. Hughes

Ivon T Hughes is a leading expert in life annuities in Canada. His website LifeAnnuities.com is a recognized authority on annuities. He's also an established insurance and investment broker, through The Hughes Trustco Group since 1972. Recently, he's been redefining how annuities are sold in Canada.

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