Aegon cuts life and IP rates ahead of gender directive

The move is an aim to make employee benefits affordable for small companies as part of a campaign. Individual guaranteed level life rates have been reduced by an average of 1% and male income protection rates by up to 20%. Some critical illness rates have been reduced while female income protection rates remain unchanged. Rod McKie, head of protection marketing at Aegon, said: "A key focus is the workplace market and how we deliver employee benefits to small companies. "These rate cuts are part of us taking advantage of a window of opportunity in the run up to the implementation...