Better annuity awareness needed, Canada Life says

Disclosure of health conditions can lead to 'significantly' improved income

Jasmine Urquhart
clock • 1 min read

Canada Life says better understanding of annuities can lead to “significant” improvements in retirement income.

After analysing annuity rates last week (w/c 20 February), the firm found that disclosure of common health and lifestyle conditions could significantly improve retirement income. It said better quality information about health and lifestyle could make a positive difference to retirement incomes, even for common health indicators such as smoking, diabetes, and body mass index (BMI). It added that more complex health conditions could improve retirement incomes by significant amounts, and called for advisers to work with clients to ensure all information is fully disclosed to guarantee t...

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