Just Retirement boosts the pensioner economy

Just Retirement has just launched its guide to underwriting which is designed to help IFAs understand the breadth of medical conditions and lifestyle factors that can trigger improvements to pensioner incomes via its enhanced annuity product.

Just Retirement estimates that in 2009 it will add over £18m to its customers' incomes and, with its portfolio of annuities growing rapidly on the back of its market leading proposition, this figure will undoubtedly grow significantly in future years.

Commenting on the analysis, Peter Ellis, head of annuities at Just Retirement, said, "By taking into account more than 1,500 medical and lifestyle qualifying conditions, Just Retirement is able to add significantly to its annuitants' retirement incomes. In total, we estimate that this year alone our customers will receive over £18m more retirement income than would have been the case had they bought an annuity on standard terms.

This is consistent with our estimate that the total loss of value associated with not shopping around amounts to over £500m each year for the market as a whole.

We are committed to raising awareness of the benefits that Enhanced Annuities can bring as an integral part of customers exercising their Open Market Option and believe that the publication of this guide will help more IFAs understand the range of conditions which can trigger rate enhancement."