AXA to pilot enhanced annuity with Hargreaves

The firm says the product, offered by AXA Wealth Management, differs from a standard annuity as the consumer is assessed on their medical and lifestyle conditions as well as age and gender. It says it aims to provide higher income than a standard annuity as health is taken into account and those with a risk of lower life expectancy can gain a higher annual income from their pension fund as a result. The pilot has been developed as part of AXA Wealth Management's proposition to meet the requirements of the retirement market. It says the pilot will help identify the critical success fact...