Impaired Life Annuities

An Impaired Life Annuity provides a regular monthly income in place of a lump sum benefit from a pension.

An Impaired Life Annuity is only available to those with medical conditions and is subject to medical assessments determined by the annuity provider.

What is an Impaired Life Annuity?

High risk old impaired life annuities

A Life Annuity will typically be set up by an Annuity company who will buy the value of your pension from the pension holder, and give you a monthly income in place of the lump sum pension pot; you can usually take a maximum of 25% of the pension value as a tax free lump sum beforehand. An Impaired Life Annuity can see your monthly income increased on an incremental basis depending upon the severity of your health and smoker status.

To qualify for an Impaired Life Annuity you will generally need to have a life expectancy of less than five years. If you qualify for an Impaired Life Annuity you will receive a higher monthly income than that of other annuity policies available. This is because the annuity holder expects to only pay you a monthly income for a shorter amount of time. It is important to note that any funds left in your pension pot after your death will be retained by the annuity company. Not all annuity companies offer an impaired life policy and you should seek independent advice before placing your pension with one.

How will my Special Risk Affect this?

If you have a special risk of a medical nature that will likely result in you having a shorter life expectancy then you may be eligible for an Impaired Life Annuity. In this scenario a more severe medical prognosis is actually in your favour.

Impaired Life Annuity Quote

Special Risk Bureau is not authorised to provide annuity advice. We introduce to a wide range of suitably qualified and authorised financial advisers who can offer full advice on Impaired Life Annuities. If you would like a quote or general contact about Impaired Life Annuities please fill in your details below:



Date of birth: (DD/MM/YYYY)

Contact Time:


Request a Callback




Contact Time:

Talk to a Friendly Adviser

Please feel free to call us on 0800 567 7450 and one of our qualified insurance advisers will be happy to assist you.

Get a Quote

Please feel free to request a quote from us using our online form. As a broker we search a fair analysis of the whole market and will always take your specific risks and concerns into account. For this reason we do not currently offer prices online but will always do our best to reply to you by email, text or phone as soon as possible.

The more information that you can provide us about your health conditions, hobbies, travel and/or occupation the better as this will help us to provide the most accurate indications of price.

Get a Quote

What We Offer?

  • Experienced and knowledgeable advisers
  • Specialist advice with no fees to pay
  • Full assistance with all of your paperwork
  • Put your policy into trust at no cost
  • A dedicated insurance adviser for you

Guides & News