Phoenix Group, which only manages closed books of business, is campaigning to be included in online annuity comparison tools.
The with-profits life and pensions manager has no policies for sale but wants its rates ranked side by side with its peers to give policyholders the full picture. Kevin Arnott, director of with-profits management for Phoenix Group said the firm is looking at ways it can have its guaranteed annuity rate (GAR) products included in online annuity comparison tools. He said the public has a negative perception of GARs since the collapse of Equitable Life, and added the company is keen to ensure policyholders do not give up their GARs for the sake of shopping around. "Shopping around is ...
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