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Aegon to launch variable annuity next month

Aegon is understood to be launching a variable annuity product next month which follows on from its 5 for life product.

Sources say that Aegon will be launching the product believed to be called Income for Life in May but the name and exact launch date were not confirmed by the life office.

Aegon spokesman Mark Locke says: “Yes we are working on something that follows on from the 5 for life concept as that was non-pensionable. It will be launched before the summer and the name is still undecided.”

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