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LRM launched by cheap insurance quotes firm
Cheap life insurance quotes provider Life Trust has launched a new pensions product.
The Longevity Risk Manager (LRM), aimed at trustees and finance directors of funds, is a tool aimed at helping to mitigate the risk of longevity among members.
Potentially expensive buy-outs and buy-ins - which can leave the scheme under-funded - are therefore more easily avoided.
Mike Tyler at the cheap life insurance quotes firm, said: "The size of the market that could benefit from the LRM is significant with over 5,000 small and medium sized schemes likely to be experiencing this type of idiosyncratic risk in their schemes.
"With liabilities equating to £200 billion, covering 3.5 million members, there is clearly a need for innovation like this in the market."
Andy Briscoe, Life Trust's chief executives, said that he was "delighted" with the new LRM product.
Find out more about life insurance from Life Trust at lifetrust.com.
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