New provider Just Retirement is launching enhanced annuities and equity release schemes by playing off a perceived gap in the market for persuading consumers to shop around for better retirement income.
Just Retirement (JR) plans to start distribution through IFAs, promising to increase retirement income by up to 40% through greater use of cross-referencing medical conditions against post-codes. Just 1-in-3 people “shop around” for the best annuity rate through the Open Market Option, JR says. The 1,000-odd medical conditions include the usual suspects of diabetes, heart conditions, cancers, smoking “as well as a host of more minor conditions”. Equity release schemes proposed will focus on the findings of research suggesting retired homeowners on average own homes worth six times...
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