MetLife will distribute Living Time’s fixed-term annuity product from February this year.
Earlier this week, Money Marketing revealed MetLife was set to use the Living Time product to access the fixed-term market following the acquisition of Alico, the underwriter of Living Time plans. Living Time will remain an independent company.
MetLife Europe managing director Dominic Grinstead (pictured) says: “With the relaxation of the age 75 rule and continuing low interest rates consumers will be looking for more options. We see both unit linked guarantees and fixed term annuities as being key product innovations for advisers to offer clients.”