Innovative (or not) product ideas that don't exist

I wondered if people wanted to get their creative hats on and had any thoughts about products that they would like to see exist which haven't and don't.

Ill give a boring start to the idea train:

- ISA annuity (tax free guaranteed income). Given the relative size of the ISA allowance of the last decade or two, I feel some people could be able to secure a reasonable income from such a product.


  • Regular premium long term care insurance as a deduction from a pension fund.

    People pay a monthly premium via their pension fund that guarantees to cover the cost of long term care.

    Also, (more of a tax change rather than a product), any withdrawal from a pension to pay for long term care should be made tax free.

  • I'd like to see pensions opened up further as a potential "your life and family fund". It can then be accessed at all ages depending on the purpose:

    - First time buyers can access it (perhaps with maximum limits) to put towards first home with withdrawals tax free (similar implementation to how a LISA works)

    - Can be accessed to pay for childcare instead of the tax free childcare account

    - as with the idea above, can be used to access long term care fees tax free.

    - could be used to pay for PMI and family based protection premiums.

    - accessed at NMPA for anything else/retirement

    How such a thing would then work with things such as means testing I don't know, but it would at least provide a much wider purpose through life instead of this highly inaccessible fund which you can't touch until retirement.
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