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75% Of IFAs say simplified medical forms could hit enhancement

Nearly three-quarters of advisers believe that simplified medical forms for enhanced annuities could result in a lower enhancement, according to Just Retirement.

The firm surveyed 272 advisers and found 36 per cent believe that a high proportion of people that could qualify for an enhancement could miss out through limited application forms. Only 9.5 per cent say using such forms is perfectly acceptable.

Almost 60 per cent of IFAs believe a common medical questionnaire is the best way to simplify the underwriting process for an annuity.

Nearly 88 per cent say they take into account full medical history in every case while 12 per cent say they do so if the client mentions a medical condition.

Head of research Nigel Barlow says: “Advisers are keen to provide a comprehensive service and to obtain the best annuity deal for clients. It is vital we make it as simple as possible.”

Directly Financial director Stuart Bayliss says: “It is pleasing that IFAs support the fact that the more information they provide the better the deal will be for their clients. We now need to concentrate on achieving quality out of the information process rather than providers making forms shorter and making more money.”


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Royal London is pleased to support the petition calling for a ban on cold-calling for pension and investment products. The petition, launched by IFA Darren Cooke of Red Circle Financial Planning and hosted on the Parliamentary website, calls on the Government to ban cold-calling for pensions and investment products. A similar ban is already in force […]


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