Bendigo to white label Challenger annuities
Bendigo Financial Planning will offer Challenger's Liquid Lifetime annuities to Bendigo clients under the Bendigo brand, under a new deal.
The annuities provide guaranteed income for life with access to capital within the first 15 years of the policy.
"We wanted a solution to help Bendigo Financial Planning customers achieve a guaranteed minimum cashflow on top of any age pension entitlements - but without sacrificing liquidity," said senior manager business partners services at Bendigo Wealth, Joshua Parisotto.
"This way they can retain exposure to growth assets without having to worry as much about volatility."
Challenger's general manager, key accounts and platforms, Rommel Hacopian said the company is seeing "resurgent" interest in the lifetime annuities which permit access to capital in the earlier part of the policy.
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