News: August 2012

EU gender directive

From the 21st December 2012, protection (life insurance) providers will no longer be able to take gender into account in the way that premiums are calculated for UK customers.

How will it affect cover for women?

The costs of life cover and life cover with critical illness cover for women are expected to increase when gender neutral pricing is introduced. Women could be facing a ‘take advice early on’ period for new business on these products in the run up to 21st December 2012.

How will it affect cover for men?

Men could face a potential rise in their income protection cover premiums for new income protection business on or after 21st December 2012.

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