Canada Life has confirmed its approach to annuity rate pricing ahead of the introduction of gender equalisation legislation.
From 5 December 2012, Canada Life will produce quotations for individual annuities on a gender neutral basis. Under a European Court of Justice ruling, it will be illegal for insurers to price products using gender from 21 December 2012. Annuity quotes will be issued on a unisex basis after this date. However, Canada Life is still accepting gender specific business up until day before legislation comes in. The insurer requires a fully completed application form and all other requirements on or before 20 December 2012. Richard Priestley, executive director, retirement Income at Cana...
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