Gender ruling may worsen protection ownership differences

clock

Ageas has questioned whether the impending move to gender neutral pricing will result in women falling further behind men in their willingness to protect themselves.

According to research commissioned by the provider, men purchase greater levels of life cover, critical illness (CI) and income protection (IP) than women, and the situation could get worse. The provider found 36% of men surveyed currently held life insurance with just 30% of women doing so. These results were reciprocated in both CI (10% compared to 7%) and IP (5% vs 4%). With the introduction of gender-based pricing being forced upon the industry by the European Court of Justice (ECJ) in December, it is widely expected life insurance rates will rise by as much as 10% for women. ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Insurer

'Fragmented and barely functioning' PI market is biggest threat to advisers - Beaufort chairman

Excesses up five-fold

Sophie King
clock 19 December 2019 • 1 min read

Scottish Widows commits to PDG Claims Charter

Also signs Funeral Payment Pledge

Katie Crook-Davies
clock 08 May 2019 • 1 min read

UK mutuals generate more than £130bn income annually

'Touch lives of one in three'

Adam Saville
clock 07 May 2019 • 2 min read