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Aegon launches 21 day guarantee for annuity quotes

Aegon Scottish Equitable has launched a minimum 21 day guarantee rate period on all annuity quotes.

If the rate increases, the new higher rate will automatically apply but it it decreases the original rate will remain guaranteed for a further period of 21 days from the date of the reduction.

Previously Aegon’s minimum guarantee was 14 days.

Head of annuity sales Mark Cardy says: “Our distributors have told us that one of their biggest frustrations in dealing with a client’s annuity is the time and effort it takes to re-quote to keep the rate current whilst waiting for the case to complete.

“We believe a longer rate guarantee period reduces the requirement for numerous re-quotes, saving advisers and clients valuable time and money. Working with our distributors and improving our annuity proposition will enable us to maintain our market leading position.”

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