We’ve brought back the surrender feature
Following our recent survey where we asked for your views relating to retirement income, we’re starting to implement a number of improvements to the features and benefits of our Annuity products.
We’re really pleased to tell you that as of 6th April 2018 we’ve re-introduced the surrender feature on our Fixed Term Annuities.
What is a surrender feature?
If your client chooses a guaranteed minimum payment period for the full term of the plan they will now have the option to cash in the value of their plan at any time throughout the term.
The cash in value is calculated by giving a present day value to the future income payments and/or maturity value due.
It’s important to note that the cash in or transfer value will always be less than the remaining payments and/or maturity value due over the term of the plan.
At Legal & General we believe that annuities still have an important role to play as part of a client's retirement portfolio. And we’ll be bringing a number of enhancements and new product solutions to you over the coming months.
If you would like more information, please contact us on email@example.com.