Why retirement planning starts with height, weight and postcode

By Lora Benson | Mar 23, 2017
Starting with simple factors, modern underwriting has the power to shape retirement plans in ways you can’t predict. Explore the importance of every client receiving a personalised underwritten quote in our latest THINK article.

Whether it be guaranteed income for life (GIfL), provided by an annuity, managing their drawdown portfolio or care planning, new thinking and new systems mean the criteria for modern underwriting are now much broader. And the idea of whether someone ‘qualifies’ for an enhancement is becoming outdated.

The reality is that every retiree will have an individual longevity curve.

A GIfL rate can be personalised with just two factors:

  • height and weight
  • postcode

Marital status, alcohol consumption and common conditions such as diabetes, asthma and COPD (Chronic Obstructive Pulmonary Disease) are further examples of a multitude of factors which can make a difference too.

Underwriting every client as part of retirement planning fact finds or drawdown reviews provides a benchmark secure income rate to help you advise appropriate product selection.

With PII costs and FCA regulatory directives in the background, a GIfL quote on file demonstrates treating customers fairly and protects both your firm and your client now and in future.

Read more on the power of modern underwriting to shape retirement planning in ways you can’t predict

For further information contact me on my usual number.  Alternatively contact our support team on 0345 302 2287 or at support@wearejust.co.uk.

Just

Just is the new name for Partnership and Just Retirement.

It’s an exciting new brand which represents the heritage, legacy, passion, purpose and vision of our new organisation. We’re rethinking retirement, and we’d love to start a new conversation about retirement with you.

Just is honest and moral with a strong social purpose. A beacon within financial services. We believe everyone deserves a fair, secure and fulfilling retirement, and that financial intermediaries are best placed to help people with the choices they need to make to achieve this.

Just is a trading name of Just Retirement Limited, Just Retirement Money Limited, Partnership Life Assurance Company Limited and Partnership Home Loans Limited which are subsidiary companies of JRP Group plc. JRP Group plc was formed by the merger between Just Retirement Group and Partnership Assurance Group in 2016. For more details about the JRP Group please visit: www.jrpgroup.com

We are one of the UK’s leading providers of specialist financial services solutions, completely focused on meeting the needs of people thinking about, approaching, or in retirement. Let's have a new conversation about retirement