AXA Wealth Management is teaming up with Hargreaves Lansdown to pilot its Enhanced Annuity proposition.
The product assesses consumers on not only their age and gender, but also their medical and lifestyle conditions, meaning those with a risk of lower life expectancy can gain a higher annual income from their pension fund than they would with a standard annuity. Enhanced Annuity proposition is designed so the customer is clear on the annuity rate they will receive and quotes are offered with a 14-day guarantee on the rate. The trial run is aiming to identify the critical success factors and differentiation required for a full market launch. David Wade, enhanced annuity product manager ...
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