AXA has announced that it is planning to trial its Enhanced Annuity proposition with Hargreaves Lansdown, a provider of investment management products and services to private investors in the UK.
The Enhanced Annuity proposition, offered by AXA Wealth Management, differs from a standard annuity in that the consumer is assessed on not only their age and gender, but medical and lifestyle conditions are also taken into consideration.
The pilot has been developed as part of AXA Wealth Management’s proposition to meet the requirements of the retirement market. The pilot will help identify the critical success factors and differentiation required for a full market launch.
David Wade, enhanced annuity product manager at AXA Wealth Management, said: We are delighted that Hargreaves Lansdown is taking part in the pilot. The firm’s knowledge and understanding of client needs when it comes to retirement solutions will be key to ensuring the proposition we go to market with is entirely accessible and relevant for the end consumer. The firm has a great deal of experience in this area and run their own annuity supermarket for clients.