The Exchange is offering instant quotations as part of its annuity comparison service.
Just Retirement, specialist in impaired life, and Legal & General are the first two providers to sign up to the service.
The quotation service will offer standard, smoker and enhanced annuities, delivering client-specific illustrations. It will also allow advisers to store and retrieve quotes.
The personalised real-time service claims to be the first offered by a portal, although Origen and Hargreaves Lansdown already offer online annuity quotations.
The Exchange managing director David Child says: “Annuity rate tables have been around for several years but advisers and providers have always been very keen to receive a more advanced, real-time system.
“Following the lead of Just Retirement and Legal & General, we expect other providers to join the service shortly.”
Origen had of annuities Nick Flynn says: “I can see this being great news for many generalist advisers rather than specialists and it is good to see Just Retirement on there. They have offered this on pension term assurance and bonds so it is nice to see them catching up on annuities.”