Rated Age Quotes - Medically Underwritten Annuities

Rated Age Quotes

If you have a serious medical condition (see list below) you may qualify for a rated age quote which pays more annuity income than does a normal annuity. When an insurance company determines that your actuarial age is older than your chronological age the level of income calculated based on this so-called "rated age" is usually higher because the insurance company expects the duration of the income stream to be shorter, i.e., the company expects to make fewer payments.

What constitutes a "Serious Medical Condition"?

The following are examples of "ratable" conditions. This is not intended to be an exhaustive list. There are other conditions which may qualify for "rated age" underwriting.

To discuss your specific situation with us call 800-872-6684 Toll Free. We would be glad to review this with you.

Alzheimer's Heart Attack, Angina, Disease Muscular Dystrophy
Alcoholism High Blood Pressure Obesity with complications
ALS (Lou Gehrig's Disease) Hodgkin's Disease Organ Transplant
Angioplasty or Heart Surgery Injury Due to Falls of Imbalance Organic Brain Syndrome
Cancer (except basal cell) Leukemia Paraplegia or Quadriplegia
Chronic Hepatitus/Hepatitus C Liver Disease Parkinson's Disease
Congestive Heart Failure (CHF) Lymphoma Renal Failure
Cirrhosis of the Liver Melanoma or Metstatic Cancer Stroke
Diabetes with complications Mental Illness Transient Ischemic Attack
Emphysema/COPD Multiple Sclerosis (MS) Vascular Disease

How do I apply for a "Rated Age" determination?

It is a lot simpler to apply for a rated age determination than to apply for a life insurance policy. You do not have to meet with a paramedic or undergo any special physical examinations. Just send us a copy of your recent hospital and medical records written at the time of significant examinations, hospitalizations (including hospital admissions and discharge reports), surgeries, or rehabilitation.

Keep in mind that your chances for obtaining a more favorable rating will increase with the number of detailed reports you submit! Note that the insurance companies may decline to underwrite an annuity if they are not provided with copies of the original records.

To obtain a medically underwritten annuity quotation:

1. Click the following link to download an Authorization to Disclose Information. Print it out, complete and sign it.

2. Put together the signed and complete form with your medical records.

3. Send all of the information to: WebAnnuities Insurance Agency, Inc. Att: Rated Age Underwriting 28 Harrison Ave, Suite 908 Englishtown, NJ 07726

Or, fax to 732-792-9777. Please call 800-872-6684 before you begin faxing your documents.

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Comments (6)

  1. Fred:
    Apr 07, 2015 at 03:20 PM

    My wife and I are considering purchasing an Immediate Fixed Annuity with Joint Life Income and no payments to a Beneficiary. Can I roll over a portion of my Traditional IRA and keep the remaining amount in my present IRA?

    Also, we're both in our late 60's and have health issues. Looking at this realistically, we probably won't be around in 10 to 12 years. Is it possible to get a better rate due to our health?

  2. Hersh Stern:
    Apr 07, 2015 at 03:26 PM

    Hi Fred-

    Yes, you can transfer some of your IRA monies into an immediate annuity. It does not have to be all your IRA money.

    Regarding getting a better rate because of your poor health – the answer is “perhaps.” The only way to know is by submitting your medical records for review.

    I am frequently asked by callers to estimate their condition over the phone and tell them how much more income they’ll receive. I can never answer that question correctly because a company’s rated age determination is always a nuanced evaluation made by a doctor and takes into account the progression and severity of the condition, something a non-medical professional cannot do.

    The medical underwriters are mostly interested in your recent history. They’ll look at whether your condition has improved, worsened, or is stable. They’ll want to know what medications you are on, what procedures, tests, etc. you’ve had. They will form their own opinion independently of anything your doctors have told you.


  3. Mildred:
    Jan 07, 2016 at 11:47 AM

    I received your annuity quotes and am wondering if the insurance companies took into account my history of Atrial Fibrillation (have pacemaker)and mitral valve regurgitation heart?

  4. Hersh Stern:
    Jan 07, 2016 at 11:49 AM

    Hi Mildred-

    The quotes you see at our website are of the “plain vanilla” variety and do not take into consideration a buyer’s medical history.

    However, I looked up the quotes I sent you and see that you are 89 years old. Unfortunately, the few companies that underwrite immediate annuities will not rate a buyer’s age above age 85.

    In other words, the oldest (or most favorable) adjustment to anyone’s age following such an underwriting would be viewed by the insurance company as an 85 year old. But you already are age 89. So you have nothing to gain by pursuing the underwriting.


  5. Philip:
    Jan 15, 2016 at 07:29 AM

    I received your immediate annuity quotes for a joint life annuity. However, my wife has had one TIA and 2 strokes and I would like to get a rated age quotation.

  6. Hersh Stern:
    Jan 15, 2016 at 07:32 AM

    Hi Philip-

    I suggest that you call me to discuss this project before you expend a lot of effort in gathering your wife’s medical records, etc. At this time (Jan, 2016) there is only one life insurance company that considers an annuitant’s state of health in its pricing of immediate annuities. That company is not competitive and appears near the bottom of our quote list.

    So unless your wife’s condition warrants a 5 year or greater uprating I doubt you’ll get a quote from this “rated age” company that would be higher than the quotes we already gave you that appear at the top of the list (that don’t take your wife’s medical history into account).

    Plus, since you’re considering a joint 100% life annuity, any increase in income a company might be willing to give your wife because of her poor health, would be offset and reduced to some extent, by the fact of your good health. That’s because with a joint life annuity the insurance company expects to be paying income to the person who is projected to live the longest, which is you.

    If you would consider a single life annuity based on your wife’s lifetime then a medical underwriting may make more sense, actuarially speaking. But that may not make sense, financially speaking.