"As an industry we need to think differently around how we can support advisers and their clients, many of whom are older and some vulnerable."
L&G is temporarily extending its quote guarantee period for advisers to secure an annuity rate from 35 days to 45 days. The extended guarantee period comes into effect immediately and applies to its lifetime annuity, fixed term retirement plan, cash out retirement plan and lifetime care plan.
Due to the current logisitcal challenge of signing documents, L&G is also temporarily accepting digital sign-off as an alternative to wet-ink signatures. Advisers can access the new editable application forms on the adviser centre.
Additionally, L&G has confirmed that phone lines for new business calls are now open. Advisers can get new business quotes via the portals and use Track My Apps to check progress on existing applications.
Emma Byron, managing director of Legal & General Retail Retirement Income, commented: “We are all working in a challenging environment right now, and as an industry we need to think differently around how we can support advisers and their clients, many of whom are older and some vulnerable.
“We want to give our advisers and our customers reassurance in these uncertain times. We have therefore adopted a number of new practices to ensure that social distancing doesn’t prevent customers and their advisers from securing the guaranteed income that they need. By extending the annuity rate guarantee period to 45 days, we believe that more customers will be able to secure their annuity income.”
