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Guaranteed debate

This week, Money Marketing reveals Aegon is to cut guarantees on its Income for Life products for new business. This follows price hikes and equity exposure cuts by MetLife and equity exposure cuts from The Hartford.

The economic downturn has asked difficult questions of providers offering guaranteed products. Extreme market volatility has hugely increased the costs of the guarantees and made such changes inevitable.

These moves are prudent and required to protect current policyholders. But they will not stop the healthy debate about the costs and benefits of such products to clients.

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