Clean-livers need equity release?

Posted in General

15th April 2010

Leading a healthy life could backfire once a person starts enquiring about an annuity, meaning they may need to release equity from their house for extra cash.

Britons who opt for an enhanced annuity will have their lifestyle and medical conditions taken into account when judging how much will be paid out.

Someone who has had a heart attack could get 40 per cent more each year than someone who hasn't, according to finance advisers Hargreaves Lansdown.

People who have not had health concerns needn't lose out though, as they can look into an equity release scheme, such as a home reversion plan or a lifetime mortgage.

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