Providers compete for share of impaired market

After a slow start, interest is increasing in the impaired life market with many of the industry's big names now challenging the products being offered by niche players

The impaired life annuity market has taken time to grow since the first products emerged in the mid-1980s. This slow growth is perhaps surprising considering the higher income payouts available on impaired life products but it reflects the lack of understanding of annuities and the open market option Equally, many of the largest providers and best known brand names have been reluctant to provide impaired life options in the past as they were wary of upsetting the market for their traditional annuity products. Providers balance their annuity payments through a mixed pool of healthy a...