Aegon is launching the latest in its growing retirement solutions range with a product it says bridges the gap between annuities and income drawdown vehicles.
Income for Life, aimed at individuals aged between 55 and 70 and with over £50,000 pensions savings, offers the certainty of a guaranteed income regardless of market activity and inheritance benefits similar to those available via income drawdown products. Its introduction follows the 2006 launch of its 5 for Life product, which guaranteed at least 5% of a consumer’s original investment every year for life. Mike Douglas, Aegon UK At Retirement managing director, says: “We recognise that people’s lifestyle patterns and retirement needs are changing as people are living longer [and] more a...
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