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Canada Life has introduced the annuity growth account

Canada Life has introduced the annuity growth account, a product which breaks new ground in the annuity market.

This product differs from other annuities on the market in having a set five year term. At the end of this the customer has the chance to choose either another five year annuity or a traditional lifetime annuity. This gives the product a flexibility that current annuities lack.

Currently annuity rates are at a 30 year low. But with Canada Life&#39s offering, by the end of the first five year period they could have risen again, allowing the annuitant to benefit from a higher annuity rate.

This is an innovative product that provides some much needed flexibility to the annuity market. The traditional annuity is set in stone and cannot be changed, but the annuity growth account, with its five year term can be used to reflect the changing circumstances of a customer.


RBS confirms sales of NatWest insurance holdings

The Royal Bank of Scotland has confirmed the sale of its 50 per cent stakes in NatWest Life and Royal Scottish Assurance to CGNU. The £600m deal comes as no surprise as it formed part of the takeover bid RBS launched for NatWest in November. The high street bank is also launching the new marketing […]

M&G has introduced the Innovator Fund

M&G has introduced the Innovator fund, a unit trust that aims to provide long-term capital growth by investing in small UK companies that show enough potential to become the market leaders of the future.Aimed at investors who are willing to put their money in what is a high-risk fund, Innovator will concentrate on a maximum […]

Nationwide and Standard are facing new threats

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Health chain to float on AIM

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Industry under fire over pension freedoms

By Jamie Clark, Business Development Manager, Royal London Recent articles in the media have raised concerns about the new pension freedoms. One perceived problem is that across the industry, trustees and providers are not necessarily allowing people to take full advantage of the pension freedoms in situ. This is backed up by a recent survey by […]


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