Flexible retirement solutions provider LV= has launched Enhanced With Profit Pension Annuity, its new with profit pension policy.
LV= said that policyholders will receive an income linked to the performance of the LV= With Profit Fund, providing them with the potential to receive additional income not possible under a conventional annuity.
The new product will also offer value protection, thereby providing a return of unused capital to their estate should the insured die before the age of 75.
Matt Trott, head of annuities at LV=, said: We have developed a unique proposition in this market, where customers can link their annuity income to the investment performance of a respected mutual, and still obtain rates appropriate to their personal circumstances. In addition, customers can now opt to protect the value of their With-Profit annuity should they die before reaching age 75.