EU Gender Directive forcing all Life Insurance rates UpMake Text Bigger
Guest article by Howard Reuben IFA
I am not a salesman, but ……….. buy it whilst it’s cheap!
If you are considering your life cover plans at the moment or if you need to arrange life insurance over the next few months or so, please note that the new EU Gender Directive starts on 21st December of this year and as a consequence, insurance rates are increasing!
In December 2012 new European legislation will mean that women will pay the same as men for insurance – such as car insurance and life cover.
Not really fair as ladies are considered to be better drivers and live longer.
Applications need to be with us by 20 December 2012 for us to help our Clients benefit from gender specific rates.
This time, there really is a cost of delay. You can apply now and secure the gender specific rate and you could even instruct that the policy is not to start until 21st December, but – as we all know – insurance companies may take some time in underwriting the application and any delay in your policy starting could increase your cost, so industry rumours have it, by anything up to 30% extra!
Whether you are single or married, have a career or have made home and family your life’s work – you need to protect yourself, your family and your real worth.
And you can do this for less than you might think. A £200,000 life cover policy could cost as little as
£8.01** a month>> for a 30 year old woman
£10.82** a month>> for a 35 year old woman
£15.80** a month>> for a 40 year old woman
I urge you to buy now to avoid the risk of paying more later.
If you are a property investor and own property in your sole name, our ‘Life Insurance for Landlords’ article is a simultaneous must read too!
This message is short and sharp and to the point – written in haste as there is no time to waste!
** Female, age at next birthday, non smoker, £200,000 lump sum life cover over 25 years. Correct as at 4/7/12
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Regulatory small print
Article written by Howard Reuben aff.SWW, Cert PFS Cert CII (MP). Licensed by the Office of Fair Trading as a Credit Broker and Debt Counsellor Member of The Personal Finance Society. An Appointed Representative of Personal Touch Financial Services Ltd., which is authorised and regulated by the Financial Services Authority. PTFS approval for this article: REFERENCE 1405425 EXPIRY DATE 29/12/2012. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE
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