Aegon says it is committed to the third way annuities market, despite its decision to withdraw its popular 5 For Life product earlier this month.
The insurer says it would be 'irresponsible' to offer a product that was unsustainable given current market conditions, and believes it new offering will remain a good option for consumers. On 2 June, Aegon confirmed it would withdraw its 5 For Life third way annuity product, which offered a 5% income for life, as well as the possibility of investment growth. The product was launched to much fanfare in 2006, but will now be replaced with the Secure Lifetime Income Plan at the end of June. Secure Lifetime Income will offer age-related guarantee, as well as an income escalator option. ...
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