Canada Life launches first enhanced annuity

The product, which does not require customers to undergo a medical, joins the provider’s existing annuities, the Lifetime Annuity and the Annuity Growth Account (AGA), which allows customers to delay locking into a fixed rate up until their 85th birthday. Peter Gould, project manager for new products at Canada Life, says: “We’ve been looking at enhanced annuities for a number of years but we didn’t want to go to market without the right proposition. When we’d looked previously, we found the process for clients was lengthy and the process internally was quite cumbersome.” John Occleshaw, e...