Canada Life relaunches annuity growth account

The life insurance firm says the revised product allows customers the chance to transfer their lifetime annuity to another provider at any five year review point. It also gives customers over 75 an alternative to ASP with income up to 120% of the standard lifetime annuity rate. The fund is split between a five year income and an investment growth account. AGA takes initial commission up to 4% and trail commission options of 0% to 1% a year in 0.25% denominations. Customers also pay a maximum 1% commission on final lifetime income selection. Customers could also receive a bonus paid aft...