Partnership is offering what is claims to be the most competitive smoker annuity available .
The product offers people over 50 who have smoked at least 10 cigarettes a day for the past ten years a guaranteed income higher than a standard annuity. It is only available through IFAs, who can get quotes from The Exchange’s Exweb comparison service.
Partnership chairman Ian Owen says: “It is an inescapable fact that the vast majority of smokers will not live as long as people who do not smoke. Although, as a population, we are experiencing increased longevity, the rate of improvement for smokers is a lot lower than for non-smokers, so smokers who take a standard annuity are being hit with a double whammy. More broadly, the product demonstrates the importance of exercising the open market option.”