CommInsure has stepped up its profile in the annuities market, announcing enhancements to its product offering including halving the minimum investment amount to $10,000.
The company’s enhancements were announced today by its Head of Annuities, George Lytas, who pointed to the education of advisers and investors about the benefits of annuities.
“We see significant opportunities for Australia’s annuities market, particularly as retirees are living longer and demand for guaranteed retirement income products is growing,” he said.
Under the changes to its offering, CommInsure has updated the Product Disclosure Statement (PDS) for its annuity products, providing a new online application form for advisers to complete through its online quoting tool, CALQ. The PDS also offers a new reinvestment option for clients.
The announcement said the other key enhancements included reducing the new minimum investment amount for CommInsure annuities to $10,000 (from $20,000) and offering competitive rates across its full range of annuities including short-term, long term and lifetime income annuities.
