The four main companies that will take health into account when assessing you for your equity release plan are:
These four equity release companies have extensive experience when it comes to enhanced lifetime mortgages and were the first companies who offered enhanced annuities to retired people. Using the data from their annuity experience, this has enabled the four companies to use this knowledge and offer enhanced lifetime mortgages based on life expectancy, health and the value of your property. The extensive experience of their actuaries in the enhanced annuity market and their ability to weather the storm of some negative financially unstable years has kept them at the top of their field and has enabled them to offer enhanced lifetime mortgages tailor-made to your personal situation.
The four equity release companies have spent years pouring over mortality rates and health questionnaires so that you can garner the best deals on the open market for your enhanced lifetime mortgage plans. With more health conditions now being included in enhanced lifetime mortgage plans, the four main providers are able to sustain their leadership in the open market and offer competitive rates with added features and benefits.
Health and life expectancy is used to establish their return on the investment they are making in your home and they use your health and life expectancy to predict when they will see a return on the initial investment. This explains why the life expectancy will be shorter for those who have a more severe medical history and it can sound callous, but the earlier you die or move into residential care, the quicker they get their money back.
Having successfully underwritten enhanced lifetime annuity plans for a couple of decades now, this experience has led them to be able to successfully underwrite enhanced lifetime mortgages using your health and life expectancy weighed up against the value of your home.
Choosing one of the four equity release companies will guarantee you safety and the added experience of many years in the enhanced and impaired life markets. These four main providers have been the leaders and main providers for no other reason than they have the benefit of experience behind them and have a solid foundation for the financial products and services they offer in many other areas of life. Successful underwritings over many years with many products has well established the four main providers in the open market.