Your current health situation is perhaps one of the most important factors that will directly affect your annuity income and when purchasing an annuity this is one of the major factors that you will need to take into consideration. Increasing or shortening your life expectancy by bringing into play a number of health factors will have a direct impact on your annuity income as this is one of the biggest determining factors in your income amount.

Age, location and lifestyle habits are all important contributors when it comes to determining your life expectancy, but your current health condition and any medical conditions that you may have can also have a large impact on your final income.

You are more likely to receive a lower income if you are a healthier individual than if you are a person who is currently in poor health, mainly due to the fact that a longer life indicates you will be receiving your annuity income for longer than if you had poorer health. If you are expected to live longer than usual then it’s given that as your annuity is designed to be paid over your lifespan, it will in turn be lower to compensation for this additional income amount.

A full medical examination is usually required when it comes to taking out an annuity and this also needs to take into consideration any lifestyle habits which might affect your health. Heavy drinking and smoking can also contribute to health problems for you and this could shorten your lifespan considerably, in addition any medical conditions which currently threaten your lifespan could cause your annuity income to rise if it is deemed to shorten your life expectancy.

Your family history and where you live may also be taken into consideration when it comes to giving you an accurate life expectancy estimate. Although these factors may not seem important they are contributors which count towards your estimated life expectancy. In turn, this will help to ensure that you receive a fair and equal annuity amount in comparison to others.

To learn more about Annuity, stop by The Annuity Specialist and find out what they can do for you.