Aegon will guarantee to increase the income base of customers invested in its unit-linked variable annuity product every year, regardless of the underlying investment performance, as the insurer makes a raft of changes to its Secure Lifetime Income (ASLI) offering.
From 15 November, new ASLI clients will see 3.25% added to their original investment each year they do not take income. If the underlying fund value exceeds that of the original investment, plus the accumulated annual 3.25%, the new figure is then locked in and the income base calculated from the new, higher amount. Aegon has also made changes to the way it reviews customers' original investments. Previously, investment amounts were reviewed on the policy anniversary date. If the investment had grown, the income base figure increased. Under a new system, the highest recorde...
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