Entire suite of annuity products approved

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Independent research house Lonsec has rated Challenger’s entire suite of annuity products ‘Approved’.

The “Approved” rating confirms Lonsec’s belief that Challenger products can achieve their objectives.

The chief executive of Challenger Life, Richard Howes, said: “We’re pleased with the recognition that our annuities are true-to-label retirement products which do what they say they will do - making them ideal for providing bedrock retirement income”.

Lonsec awarded the rating to all managed investment schemes and term and lifetime annuities offered by Challenger, including the fastest selling annuity in the company’s history – the Care Annuity – as well as the innovative Liquid Lifetime annuity.

Last week Challenger was also announced as the annuity provider of the year 2012, by Plan for Life. Challenger received several awards in the annuities category at the Plan for Life/AFA awards, including the long term income stream award and annuity & income stream innovation award for its care annuity.

Lonsec awarded its “approved” rating to the following Challenger products:

• Challenger Guaranteed Income Fund

• Challenger Care Annuity

• Challenger Guaranteed Pension Fund

• Challenger Guaranteed Income Plan

• Challenger Guaranteed Annuity

• Challenger Liquid Lifetime Annuity