Snoring can boost your pension by £570 a year
If you're fed up listening to your partner snore at night, we have good news! Snoring can boost your partner's pension by £570 a year through an enhanced annuity.
I’ve written before about how people with health problems and certain lifestyles can get a bigger pension.
So, for example, if you drink more than 50 units of alcohol a week, you can boost your annuity by 19% - as long as you disclose this condition when you buy the annuity.
Other factors that can enhance annuities include smoking, obesity, high blood pressure and diabetes.
But today I discovered that some heavy snorers can also get an enhanced annuity!
Heavy snoring is often a sign that someone suffers from Obstructive sleep apnea (OSA). An OSA sufferer doesn’t just snore a lot, he also stops breathing during sleep. These pauses are called apneas and typically last for around 30 seconds.
Sadly OSA can lead to serious health problems over time – such as diabetes, high blood pressure, weight gain and stroke.
So OSA increases the chance that you’ll die earlier than a completely healthy person of the same age. As a result, annuity providers are willing to pay a bigger annuity to someone who suffers from OSA.
Indeed MGM Advantage says that an average man can boost his annuity by £571.44 each year if he suffers from OSA.
So if you’re a snorer and you’re going to buy an annuity soon, make sure you disclose your condition to your provider. It could make a significant difference to your pension income. Once you’ve bought the annuity, it’ll be too late; you’re stuck with your annuity for life, so make sure you disclose all the relevant information when you buy.
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