'HSBC adds Life Trust's LIP to investment panel'

Professional Adviser, 3rd July 2008, by Charlotte Banks.

'Life Trust's Longevity Income Plan (LIP) is to be added to HSBC's investment panel. The deal will allow 285 premier financial managers across 16 UK HSBC branches to offer the LIP and so provide protection against their savings and investments running down in their later years.

Andy Briscoe, CEO of 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: "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."'