UNISEX INSURANCES!?

A European Court Directive (the EU Gender Directive!) is coming into effect later this year which will require all insurance companies to treat men and women equally as regards what they are charged for insurances. This goes against common sense when life assurance has always been cheaper for women because statistically they live longer than men. On the other side of the coin, men taking their pension benefits have always benefited from a higher income from their annuity because men will not live as long and the pension provider therefore does not have to pay out the income for as long as for a woman of the same age. Common sense, however, has not been much of a feature of European Court Decisions. This does open a window of opportunity for men to take their annuities before the end of the year and for ladies to secure their life assurance now before the costs go up. There is a further matter that is likely to drive up the cost of life assurance in the coming year. A new tax arrangement being imposed on insurers will require them to keep more in reserves to safeguard their financial position. This will translate for the average person into higher costs for their insurances. We may never again see life assurance costs as low as they are now. Do contact us to discuss how this could affect you and what you might or might not be able to do to take advantage of this "Buy Now" – 01342 313302.