AXA pilots Enhanced Annuity with Hargreaves

The product assesses consumers on not only their age and gender, but also their medical and lifestyle conditions, meaning those with a risk of lower life expectancy can gain a higher annual income from their pension fund than they would with a standard annuity. Enhanced Annuity proposition is designed so the customer is clear on the annuity rate they will receive and quotes are offered with a 14-day guarantee on the rate. The trial run is aiming to identify the critical success factors and differentiation required for a full market launch. David Wade, enhanced annuity product manager ...