Retirement Income - Exchange Annuity Quotes
- Overview
- Annuity quotes via The Exchange
- Collecting Medical information via The Exchange
Overview
In this article, we’ll describe how you can obtain an annuity quote from the exchange and in the process provide a link to the client so that they can provide relevant medical information. This can be utilised to see if an enhanced annuity quote can be provided.
FCA Legislation (PS19/1) requires that eligibility for an enhanced annuity is established, and where applicable health information is used, any time an annuity quote is presented to a client.
Annuity quotes via The Exchange
- Log into the Exchange as normal and navigate to the annuity quotes page
- Select Annuities Plus
- You will need to register for this feature if you have not already done so. If you pay monthly you will need to configure a website with your company information and the text you want to display. A generic site that cannot be customised is used if you are using the service on a PAYG basis.
- Select to Add a new client - or search for a client you have previously added to The Exchange
- It is also possible to hand off the medical form to your client on the quote input screens. Click on ‘Send Health Questions to Client’ on the first input screen
- Add their details and click save and send email
- When your client logs in they will be asked for their date of birth to verify the correct person is completing the details. They create a password to ensure only they can have access to the site.
- They can then update their personal and medical details
- Once the details are submitted you will get an email confirming the data is submitted.
- You will be able to see the details they have completed
- You then progress onto creating an annuity quote using the client details and adding in the annuity types etc that you would like quotes for.
- The quotes you get back will take into account the medical and lifestyle information added by your client and will in most cases be guaranteed quotes, and this is indicated by a ‘G’ icon against the quote in the results page. In some cases (e.g. complicated conditions) providers require manual underwriting, and in this case the icon will not be present for their quote result.
Further help and support
For more details, log into The Exchange and click on ‘Help’ on the navigation bar, then click on ‘Annuities Plus’. There are Getting Started guides for:
- if your firm has not already got an Annuities Plus website
- if your firm already has Annuities Plus and you want to link to your firm’s Annuities Plus website
- if you are intending to the use the Annuities Plus service on a Pay-as-you-Go basis
Or you can contact the Exchange Support team on 0345 068 3000 or exchange.customercare@iress.com
