Life insurance company Generation Life has launched a new lifetime income solution, known as Generation Life LifeIncome, on GBST’s cloud-based wealth administration platform, Composer.
The company said in a statement, “Available exclusively through financial advisers, Generation Life’s solution, an investment-linked lifetime annuity that pays an income for life – paves the road for much needed product innovation in the post-retirement space.
“For the ever-increasing number of Australians reaching retirement age, there is a growing opportunity for financial services providers to expand their product offerings. Amid the current cost-of-living crisis, this new solution will provide retirees more options at a time where flexibility is crucial to individual financial prosperity.”
Amongst its products are a range of investment bonds designed to suit the needs of a wide range of investors.
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Generation Life CEO, Grant Hackett OAM, said: “Working together with the GBST team, we have been able to improve and expand our financial technology capabilities to allow us to build out an innovative solution for the retirement income market.
“We are looking forward to further leveraging GBST’s technology capabilities to continue to enhance our product offerings with increased automation and efficiency, and improve the overall client experience we offer.”
