Direct annuity services 'are not TCF'

Technical director, David Trenner, questions the motivations of insurers like Legal & General and Aegon, both of whom have taken steps to offer annuities directly to consumers. Legal & General recent extended its unadvised annuity service to sell enhanced annuities, while Aegon plans to set up a direct-to-consumer arm, selling standard and impaired life annuities. L&G says its service has been popular with consumers, and says there is significant demand for consumers who are confident in buying an annuity by themselves. However, Trenner says: "Being confident enough to buy an annui...