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Aegon and Canada Life will both begin using postcode pricing for their annuities this month.
Aegon has confirmed it will add postcode pricing to its annuity range on 12 December.
Functionality for postcode annuities was added to Aegon's systems on 21 November for testing purposes, and the product will go live in less than two weeks.
An Aegon spokesman says: "We will be officially launching our postcode annuity rates on 12 December. We cannot confirm the rates until they go live.
Canada Life has launched its postcode pricing today and estimates prices will vary by around 7% based on postcodes alone.
The insurers join Aviva, Legal & General and Prudential in offering annuity rates based on place of residence.
| Comment | Aegon and Canada Life move to postcode pricing |
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