The fixed-term annuity market has seen real innovation lately with several new providers entering the market. Helen Morrissey takes a look at these new products and asks what role fixed-term annuities can play in a retirement planning strategy.
Fixed term annuities have been around since Living Time entered the market five years ago. While other providers considered the market, we had to wait until 2010 before LV= became the second entrant. However, in recent months we have seen something of a rush with Just Retirement and Aviva coming to the market in May and June respectively. It has also been reported that MetLife are looking to launch a fixed-term annuity product in early 2012. So, why are we seeing such a flurry of market activity now and who is likely to use these products in the future? One reason for this p...
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