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Changes to EU Gender Law

LIVERPOOL VICTORIA Changes to EU Gender Law means... LIFE INSURANCE COSTS SET TO RISE DEC 2012 When does the change to EU gender law come 21 into force? From 21 December 2012 insurance * G-Day * companies will have to treat men and women the same when working out life insurance premiums. Costs on the rise... Generally for both men and women the cost of life insurance is going to increase £££££.. What does this mean? If you buy life insurance after 21st December 2012 premiums for both men and women are likely to increase Which Life Cover products are affected? Rates could rise for both men and women across more than just Life Insurance... Likely impact on costs for both men and women after 21st December 2012 Life Insurance Pays a lump sum if you die during the term of the plan. +22% +3% Over 50s Life Insurance Guaranteed cash lump sum on death for your loved ones or to help towards funeral +25% 0% expenses. Income Protection Pays a regular monthly amount to help meet your outgoings, if you're unable to work because of accident or sickness. -28% +20% Critical Illness Cover Pays a lump sum if you are diagnosed with a serious illness during the term of your policy. +16% +6% The above examples illustrate the potential changes. Of course these will vary by product, and provider, and will depend on your individual circumstances. So they may be higher or lower than indicated. What should I do? Act now Any new policies taken out before 21 December 2012 will not be affected by the change in EU Gender Law. Please note – some rates will change as of 1st December. Speak to a financial adviser for more details. COVERED For people with a policy already in place... If you've got cover already, don't worry you're safe. But if you want to change anything or increase your cover, talk to your financial adviser now. For people who don't have cover, but who might need it If you haven't really thought about cover for you or your partner, start now or miss out. The clock is ticking. To speak to a qualified financial adviser for a non-obligation review of your Life Cover needs please call 0800 756 8052 (For text phone dial 18001 first) Your call may be recorded and/or monitored for training and audit purposes. Our advisers can only offer advice on LV= products. LIVERPOOL VICTORIA The figures included in the infographic are based on an analysis of the entire market and some of the predictions made by key stakeholders and experts, these can serve as a useful high level guide. We do not know the exact effect that the change in gender law will have, and the changes may be higher or lower than shown above. There are so many factors affecting premiums that it is impossible to give a single definitive figure that will apply to everyone. The extent of change will vary by provider, will differ by product class and be determined by the circumstances of the individual. Wogr8

Changes to EU Gender Law

shared by infogr8 on Nov 06
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An infographic showing how gender law will change the face of protection. From 21 December 2012, insurance companies will have to treat men and women the same when working out insurance premiums, mean...

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LV

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Politics
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