Better late than never

With the Government's stance on long term care stopping well short of Royal Commission recommendations for full coverage, insurers which have hitherto ignored the potential for rapid growth in the impaired life annuities market would do well to return to the drawing board. The fact is you cannot keep a good product down even when markets and demographics change beyond recognition. Purchased life annuities (PLAs) are living proof of this adage. Once considered a very safe but equally dull income producer for the over-70s, pessimists argued the PLA market was in terminal decline when mortal...