Product

AnnuityGuard protects your pension from changing annuity rates. MarketGuard Annuity Insurance protects you against annuity rate changes due to movements in UK Government bond yields. Cover can be applied to all annuity types whether purchased from the pension provider or sourced via the open market option.

Product Features (currently under development)

• No credit check, no arrangement fees
• Automatic claims payments, no customer action required
• All applicable policies covered by the FSCS
• All annuities covered from £10,000 upwards
• No claims handling or customer contact post sale
• No limit on number of annuities that can be covered
• 1 year general insurance
• All annuity types covered
• No age restriction

Market Size

• UK pension market valued at £1,900 billion
• 400,000 annuities purchased in 2007
• Annuity market has tripled in size in the last 15 years

Risk

Quotes

2 million fewer people in final salary schemes than 14 years ago (BBC/ MGM Advantage June 09)

“Effects of government’s quantitative easing has driven down gilt yields…it has created a new set of problems for final salary schemes and pensioners wanting to buy annuities“ (Defaqto)