Transparent with-profit annuity option from Clerical Medical

Clerical Medical this week launches an investment annuity alongside a traditional annuity product. The company said its Invested Annuity, which has the option to link to 21 inhouse Insight-managed funds including the company's with-profits fund, is designed to offer transparency by publishing the calculations used to determine the annuity rate. The other product, branded Secure Annuity, is a standard annuity. Clerical Medical said it wanted to launch an annuity that was flexible and transparent and fitted in with the Sandler guidelines. Nick Cooper marketing manager, post retirement pla...