The Association of British Insurers (ABI) has launched its compulsory code of conduct for members on providing information to customers about annuities.
The code, which members must implement by 1 March 2013, requires them to: Provide clear and consistent communications to ensure customers are able to make informed and proactive decisions about retirement income products, and are able to shop around for the most appropriate product. Prominently highlight enhanced annuities, and the much higher income they can potentially offer, and inform customers whether they offer these products, and how to find out who does. Clearly signpost customers to advice and support, both from regulated advisers and government-backed advice organ...
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