View more on these topics

Heath Lambert launches direct to consumer annuity service

Heath Lambert has teamed up with Partnership to launch an online, direct to consumer annuity buying service targeting individuals with small pension pots.

The service, which will be offered exclusively to Diabetes UK members for the first three months, allows people to shop around for an annuity from a list of 10 providers.

The online platform is underpinned by Partnership’s medical underwriting system, with users asked eleven questions to determine whether they qualify for an enhancement on their annuity.

Diabetes UK will be paid a commission by Heath Lambert for each member who uses the service to purchase an annuity.

Heath Lambert director Stuart Grennan says: “The majority of people do not trawl the market for the best income when converting their funds into an annuity.

“It is remarkable that leading pension providers have effectively got away with this for so long.”

Partnership managing director Andrew Megson says: “There is a compelling need to change consumer behaviours and I believe Heath Lambert’s system has the potential to do this.

“It puts the customer first by simplifying the annuity purchase process and provides immediate quotation and transaction capability.”

The annuity providers included in the online shopping around process are Partnership, Just Retirement, LV=, Hodge Life, Living Time, Prudential, Aviva, L&G, Canada Life and Aegon.


News and expert analysis straight to your inbox

Sign up


There is one comment at the moment, we would love to hear your opinion too.

  1. David Trenner - Intelligent Pensions 26th May 2011 at 4:44 pm

    “It is remarkable that leading pension providers have effectively got away with this for so long.”

    Is it so remarkable when the ABI is batting for them??

Leave a comment


Why register with Money Marketing ?

Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

News & analysis delivered directly to your inbox
Register today to receive our range of news alerts including daily and weekly briefings

Money Marketing Events
Be the first to hear about our industry leading conferences, awards, roundtables and more.

Research and insight
Take part in and see the results of Money Marketing's flagship investigations into industry trends.

Have your say
Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

Register now

Having problems?

Contact us on +44 (0)20 7292 3712

Lines are open Monday to Friday 9:00am -5.00pm