Pre-retirees living in affluent areas are being urged to shop around for an annuity if they smoke or have a medical condition, as more pension providers introduce postcode ratings.
Canada Life this week became the latest provider to use postcode pricing on its annuity range, with better rates being offered to people who live in less affluent areas because of assumptions about their shorter life expectancy.
Saturday, December 12, 2009
Healthy and Wealthy Offered Lower Annuity Rates
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