Demand increases for impaired annuities

Professional Adviser
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The market share of impaired life and enhanced annuities grew by 30% in the first half of 2002, acco...

The market share of impaired life and enhanced annuities grew by 30% in the first half of 2002, according to a survey by Watson Wyatt and looks set for further growth. Watson Wyatt believes the number of people taking out impaired or enhanced annuities is still running at half its potential. Volumes of enhanced annuities were £391m in the full year 2001 and £254m in the first six months of 2002. The total market for conventional annuities was £5.3bn in 2001, and £2.7bn in the first half of 2002, so this represents a market share of 9.3% of all conventional annuities in the first half...

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