L&G pilots annuities rated on health risks

The study, launched in partnership with Hargreaves Lansdown and Positive Solutions, follows the launch last year by L&G of annuities rated by use of an individual’s postcode. L&G says Annuity Plus has been designed to fill a gap in the current conventional annuity market for a fast track underwritten annuity. It uses five common health risks, including high blood pressure and cholesterol levels, to determine the annuity rate. Conventional non-profit pension annuities are normally determined using age and sex to assess life expectancy. L&G says the risks are responsible for a significa...