Scottish Widows enters enhanced annuity market

The Scottish Widows Enhanced Annuity will be available to customers between the ages of 55 and 75, with a minimum total investment of £5,000. The product covers lifestyle such as smoking and high BMI right through to more serious medical conditions. The new product will be available on single or joint life basis. Guaranteed periods of 0, 5 or 10 years can be selected, as well as the option to increase income each year by a fixed rate or vary in line with RPI. The product will be available to advisers through three market portals - Avelo, Assureweb and TOMAS. A dedicated service tea...