L&G to offer enhanced annuities direct to consumers

The firm has stressed the need for consumers to seek independent annuity advice, despite this move to expand its direct offering. Launched last year, Annuity Solutions initially offered customers a conventional annuity with the ability to achieve extra pension income by providing their postcode. Now, customers with a medical condition or lifestyle health risk may also benefit from increased pension income. Depending on the severity of their condition, the uplift in income could be "significant," says the firm. On average, L&G believes this could result in a 20 to 25% boost in pens...