Round Up Spring 2019

Guest article

in draw down

As well as a personalised assessment of longevity and a report for the compliance file, using an external company like MorganAsh has several other advantages: • As professional nurses undertake the medical assessments, this typically results in better annuity rates, than most advisers completing the health form. • It removes the embarrassment that advisers sometimes experience, especially for advisers discussing health issues with female clients. • Having an independent longevity estimate, enables a more in depth discussion on longevity and the various scenarios, helping to overcome the natural embarrassment to discuss the topic. So how often do you need to assess longevity ? Technically, an assessment of longevity should be undertaken whenever giving retirement advice (for example, at the initial retirement planning stage and at every annual draw down review).

Rather than instigating this professional medical review every year, advisers may choose to only instigate it if their client’s health has changed, or every few years with increasing frequency as clients get older. Assessing longevity is even more important for DB transfers, as there is a clear decision to give up the in-built longevity hedge. MorganAsh can be contacted at annuity@morganash.com or 0330 159 8185

Likelihood of survival over time

100%

75%

50%

25%

0%

65

80

95

110

119

Special arrangements are available for clients of threesixty with MorganAsh For more information on these, and other specialist outsourced services, visit the Business/ Specialists section of the threesixty website.

Andrew Gething Managing Director MorganAsh

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