HSBC to offer Life Trust's longevity income plan

Life Trust Insurance plc announces that HSBC Bank is soon to add the Longevity Income Plan (LIP) to its investment panel.

Life Trust's LIP, an innovative new product designed to tackle the financial issues arising from increasing longevity, is to be included on HSBC's list of approved products authorised for distribution through its network of wealth managers.

This deal will allow 285 Premier Financial Managers across 16 HSBC branches throughout the UK to offer the LIP to their clients and so provide protection against their savings and investments running down in their later years.

HSBC Insurance has already displayed a keen interest in the financial effects of increasing longevity having commissioned the largest worldwide study on ageing for the past four years. The 'Future of Retirement' research provides an in-depth exploration of retirement and ageing issues across the globe. The Longevity Income Plan fits neatly with this agenda as it is designed specifically to complement traditional retirement products by meeting the challenges raised by increasing life expectancies.

Andy Briscoe, CEO, Life Trust, said: "HSBC is one of the largest financial institutions in the world and has a major financial advisory presence in the UK. We are delighted that such an influential player has added the Longevity Income Plan to its list of approved products."

Steve Conley, Head of Investments, HSBC Bank, added: "As one of the leading brands in financial services, we feel it is important that HSBC Bank is involved in efforts to tackle the financial issues associated with increasing longevity. We want our efforts in raising awareness about the financial risks to be matched by a commitment to provide innovative solutions, and we believe that authorising our Premier Financial Managers to sell the LIP is a key step in the right direction."