A consumer comparison website has reported an overnight rise in premiums for whole of life as a direct result of the Gender Directive.
According to Payingtoomuch.com, PruProtect’s insurance offering has risen by 58% for a female aged 40 and 40% for males in the same band.
Michael Ward, managing director of Payingtoomuch.com, said: “Virtually all customers under age 50 are likely to have a premium increase, the younger the more the increase.
“Existing customers aged over 55 might be able to make a saving by re-quoting on the new gender neutral terms.”
He added that there were suggestions the whole market would follow PruProtect before the 21st December deadline and those wanting to beat the hikes should act now.
