NU aims to double take-up of impaired life annuities

Norwich Union believes that it can double the amount of impaired life annuities bought in the UK annuity market and is predicting growth of around £625 million. Norwich Union figures suggest that the impaired annuity market is being underused by five percent, so is hoping to close the gap with the launch this week of its own impaired annuity product. Aimed at the over 50's market, NU's impaired life annuity is designed to provide an enhanced level of income to people with a reduced life expectancy due to a serious illness or condition. Norwich Union predicts that in so...