Norwich Union halves enhanced annuity price

The provider has also increased remuneration for advisers from 1% to 1.5%, and the range of covered conditions to include lifestyle conditions so high cholesterol, high blood pressure, smoking and diabetes may now affect annuity rates. Scott Brown, head of annuities at Norwich Union, said: "The average size of a pension used to buy an annuity is currently £26,000 and taking a tax free lump sum will bring this amount down further. "We want to ensure that in as many cases as possible, customers can benefit from an impaired annuity contract. "For customer, applying for an impaired life annu...