13 Mar 2012
MetLife is launching a series of seminars focused on outlining the growth potential of the fixed-term annuity market and how it can fit with client needs following strong demand from advisers.
Dates for the first 17 seminars have been agreed in March with more planned throughout the rest of the year as part of the ongoing campaign.
The seminars will be run by MetLife's Fixed-Term Annuity Business Development Manager Richard Horner and build on the success of seminars he ran earlier in the year which were attended by more than 150 advisers. A further 600 took part in online webinars MetLife held in October 2011 and January this year.
The seminars start in London on March 7th and continue to Glasgow and Edinburgh on March 15th and Aberdeen on the 16th with more planned in Reading and Cobham on the 21st and Southampton and Sevenoaks on the 22nd with Birmingham and Walsall on the 27th and Leeds and Sheffield on the 28th before concluding in Norwich and Chelmsford on the 29th and St Albans and Huntingdon on the 30th.
MetLife, which has launched its own fixed-term annuity the Freedom Income Plan (FIP), is forecasting the fixed-term annuity market could grow to be worth more than £1 billion a year by 2013 as interest grows among clients and advisers in examining all retirement income options.
Dave Ewens, Sales Director at MetLife UK said: "There is strong demand from advisers for more education and information on fixed-term annuities as they realise the market is increasingly suited to client needs.
"MetLife is committed to helping advisers to develop their businesses and believes that fixed-term annuities should be part of that process." MetLife has significantly expanded its fixed-term annuity distribution network through The Open Market Annuity Service (TOMAS) and is the only fixed-term annuity provider on the platform.
Its Freedom Income Plan enables clients to transfer to another retirement product during their selected term should they become ill and qualify for enhanced terms on a lifetime annuity, or if the dependant attached to the plan should die.
Minimum investments are £20,000 after taking a pension commencement lump sum, with a choice of terms running from three to twenty-five years. It can accept payments from Registered Pension Schemes and Recognised Overseas Pension Schemes. Protected Rights and Pension Credits can also be paid in.