Impaired annuities get the Just Retirement treatment

Just Retirement, one of the UK’s leading providers of retirement solutions, today underlines its commitment to bringing better annuities to more people by announcing its entry into the ‘impaired’ annuity market.

The announcement marks the completion of Just Retirement’s underwritten annuity offering and, as a result, annuitants with the most serious health problems can now get an annuity quote from Just Retirement within 24 hours.

The extension to its offering is part of Just Retirement’s ongoing Campaign for Better Annuities, which seeks to unite more people with the best possible annuity income. The launch into impaired underwriting means that Just Retirement can now quote for all annuitants from those with relatively minor conditions to those with the most severe and life threatening illnesses.

As some annuity providers rely on receiving a GP’s report before being able to quote on impaired cases, annuitants often have to wait nearly a month to get a quote which may or may not be competitive. Just Retirement will provide a detailed indication of their likely annuity income to the majority of applicants within a day. For many people this will provide reassurance coupled with the opportunity to receive their regular annuity income more quickly.

Nigel Barlow, Head of Retirement Income Solutions comments “The annuity market is continually evolving and as such providers need to become more flexible. We estimate that a significant number of annuitants have been affected by the requirement for a medical examination before an accurate quote can be provided. Once again Just Retirement is leading the market by taking away the pain of applying for enhanced annuities by turning quotes around within 24 hours. We are providing genuine help and increased peace of mind to more retiring customers as they make one of the biggest one-off decisions in their life.”

Nick Flynn, IFA at Origen says: “The expansion of Just Retirement’s Enhanced Annuity to include those in very poor health is most welcome. Just Retirement has dominated the lifestyle end of the enhanced annuity market and is well placed to penetrate more of the market. The move to expand into fully Impaired Annuities will be welcomed by IFA’s and consumers alike.”

To apply for an impaired quote applicants need to complete a medical questionnaire instead of waiting for a GP report. In some instances additional medical information will be required which will then result in a better annuity rate. Just Retirement endeavours to provide a seamless service to all its applicants.