The World Won’t End…… But It Will Change When G Day Comes?


If you know your Latin American history, you will know that the Mayans predicted that the World will end on the 21st December 2012. Thankfully, NASA has recently issued a statement: ‘Our planet has been getting along just fine for more than 4 billion years and credible scientists worldwide know of no threat associated with 2012’.

However, the World will change – just a bit. From the 21st December 2012 (Gender Neutrality Day), there will no longer be a distinction between men and women when it comes to life assurance or annuities. At the moment, life assurance costs are generally more expensive for men and cheaper for women on the basis that women tend to have longer life expectancy. When it comes to annuity rates, the opposite is true. On the basis that men have lower life expectancy, they generally have better annuity rates. These distinctions are about to change and we will be in a world of unisex annuity rates.

This will not have an effect on existing plans. However, some insurance companies have not yet decided how they will treat premiums if policy terms are extended. Whilst this may all seem fair, it doesn’t deal with the fact that women still tend to live longer than men.

In a changing world, where cost is an issue, it is always worth while to shop around – not only to get the best deal but also to get the best terms – and the plan that is right for you. Mantle Financial Planning has access to the whole market place and will provide a thorough review of your options when dealing with any financial planning matters.

If you would like more information on end of year tax planning opportunities centred on your personal circumstances, please contact us >>

Written by Sam Gulley | Financial Planning Consultant

Sam joined Mantle Financial Planning in 2009 having previously been with Alexander Forbes and HSBC bank. Read more >>

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