Hitting the target

The results of the survey confirm advisers' key concerns when recommending annuities. Most notably these include the "age 75" issue, lack of flexibility, restricted death benefits and the inability to pass remaining funds onto heirs efficiently. What is very interesting is that these features are very much controlled by government legislation and to a large extent the hands of insurance companies are tied as they work within the rules to develop their annuity product range. The A-Day changes did allow the introduction of capital protection in the form of value protection. However, 16 mo...