Call for smokers to delay annuity purchase

The firm says smokers can often develop more serious conditions later in life, but could be locked into the smokers' annuity they bought when they retired. Smokers and those with unhealthy lifestyles or pre-existing medical conditions are often able to purchase an enhanced annuity, which pays a higher retirement income as the product provider anticipates a shorter life expectancy. However, Living Time believes many smokers are making the mistake of signing up for an enhanced annuity for life, even though their circumstances could change in the future. "Once purchased, the benefits [of a...