Mike Tyler talks to Helen Morrissey about the Longevity Income Plan and explains how it takes an innovative approach to help clients fund increasingly longer lives
How does the Longevity Income Plan work? The Longevity Income Plan (LIP) is the first product designed to deal directly with the financial issues arising from increasing longevity. The LIP is aimed at clients approaching retirement age and aims to provide a rising income the longer a person lives. Investors put forward a single premium of anything from £5,000 to £1,000,000 which is invested in one of nine different investment portfolios depending on their attitude to risk. The plan recommends the investment remains in place for at least ten years in order to allow the investment to grow...
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