Ormston added: “These numbers are concerning. When it comes to a lifetime annuity, it is a once and done decision, there is no turning back.
“People have to feel confident they have purchased the right annuity for their immediate and future needs. There are not many decisions in life that are completely irreversible, a lifetime annuity is one of them.
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“It is imperative people are given the level of support they want and need throughout the decision-making process to ensure they fully understand the product and the options available.”
amy.austin@ft.com
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