Competition rising in impaired sector

The market for impaired life annuities is increasing as more companies compete for the attention of an increasingly aware consumer base, according to retirement specialist IFA Wentworth Rose Independent. Conventional annuity rates were nearly 30% lower in January 2000 than in January 1995. This has led to increased improvisation from providers, said Steve Thurgood, annuity manager at Wentworth Rose. He said: "The impaired-life annuity market is expanding at the same pace as with-profits. The market only really started around five years ago and the level of innovation has risen to the poi...