Added Benefits
Our Pension Income Plus Annuity provides a number of additional benefits for your clients.
Benefits at a glance
Higher Income Levels
In some cases an enhanced Pension Income Plus Annuity can provide an income that is significantly higher than an income paid from a standard annuity. Our annuity offers personalised rates based on lifestyle and medical history. Because some people are likely to have a lower than average life expectancy, we're able to offer them higher levels of income than most standard rate with profits annuity providers.
Lump Sum Death Benefits
We offer Value Protection and lump sum guarantees on our Pension Income Plus Annuity.
Security
We guarantee your clients selected income level will not fall during the first two years.
The guaranteed minimum income will increase at 50% of any increase in income (before mutual bonus) you receive above its previous highest level.
Flexibility
We offer a choice of investment growth rates and the ability to change these after the second year. We also offer the option to convert to a conventional annuity after the 2nd year.
Independent Ratings
AKG rate us as 4/5 for financial strength, and our with profits fund as 4/5 for future performance potential. Cazalet gave our with profits fund their highest possible overall rating of 10/10 for financial strength, investment freedom and flexibility and bonus paying ability. (Sources: AKG Actuaries & Consultants Ltd UK Life Office With Profits Report December 2011, and Cazalet Consulting With Profit Ratings October 2011).
More information
Further information on the LV= Pension Income Plus Annuity can be found in our Literature Library, including a Guide to Annuities, our Key Features Document, our bonus rates for the last 10 years and a range of sales support documents.
For more information on our with profits fund, please see our Principles and Practices of Financial Management and your guide to how we manage our with profits fund.