Prudential With-Profits Annuity 'for lifelong income'

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Prudential With-Profits Annuity 'for lifelong income'

The Prudential With-Profits Annuity could provide the vital long-term financial strength that is needed for such products.

Research by Prudential reveals that many financial advisors believe that financial strength is vital for any with profits annuity, with one in four basing their recommendations on bonus history and admitting they regularly review the bonus rates before making a decision.

In particular, there were concerns that less well known brands within the sector were not as attractive to advisors, scoring less than five per cent of advisers' recommendations. This appears to be largely because such schemes lack the long-term support of a larger operation as seen with the Prudential With-Profits Annuity.

Aston Goodey, head of retirement income at Prudential, explained: "The ability to generate cash in both good and bad economic times is coming out strongly as the key factor that advisers consider."

"Promising to pay an income for life is a major commitment and advisers want the confidence to recommend a company that is financially stable and has the ability to manage their clients' pension payments and sustain competitive payments over the longer term," he added.

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