EU Gender Directive To Change The Price Of Life Insurance

As of December 21, the cost of life insurance increased. The European Union called the new law into effect in the routing rule sex means insurance companies are no longer able to distinguish between men and women. For years, has been to allow insurance companies to use sex as a measure of the cost of insurance. Always supported it with statistical evidence that women live longer and safer drivers as well, and the risk factors in the eyes of the insurance company for the benefit of women. Before women were less life insurance premiums than men because women statistically live longer and thus would have to pay on your policy for a longer period of time.

However, the European Court of Justice held that it is illegal, and now insurance companies are no longer allowed to have different pricing policies for men and women. This may mean that the reduced pricing policy for men to match that of women, but the opposite is more likely to occur with prices estimated to rise. The estimated legal and public at the age of 21 years may end up paying an extra £ 1,000 - £ 1,800 during the period of your policy. With HM Treasury policy, saying that the average increase and at least 10-15%. This means that the £ 28 policy with a 20% increase and cost an extra 67,20 £ per year. All over the political life of say twenty years, and this means higher costs of £ 1344 This is a significant increase. Unfortunately, all of the insurance sector, which is likely to witness a decline in women who buy policies due to the increase in consumer prices. One way to avoid directing new genus. Consumers have to buy your life insurance or critical illness policies before 21 December. Purchase by December 21, then ensures that you will pay a fixed premium for policy. Unless you choose otherwise. Now is the best time to buy insurance for this reason. If you are planning a life insurance or critical illness insurance in the coming months. Now is also the time to buy if you are planning to get a mortgage. Most companies do not only give you a mortgage if you have adequate coverage because it ensures that they will receive the full amount of the mortgage in the event of unexpected death. Do not end up paying more. Life insurance was not in fact a better time to buy.